@grace Not crazy! but at that point, Jeff Robertson has won! I say burn those Skypesos for Air France business (ugh) or V Australia business (not bad). And Vietnam Airlines, though when you're originating a trip outside the US there's the international origination surcharge..blech.
Ben, I agree that Swiss availability North America-Switzerland has become awful (and isn't even great in business, either). And that Singapore availability is pathetic, though it was never great. From 2006 - 2008 ANA First Class pretty much didn't exist, the same way that Singapore doesn't. But now in Winter months it's possible, so that's a gain.
Asiana first class is tough, though not terrible Frankfurt - Seoul, and still occasionally available LAX-Seoul though not every day like it used to be. The point of reference here, depths of the financial crisis, probably isn't a reasonable point of comparison. Big problem with Asiana is that the Chicago flight has gone 2-cabin. The JFK flight has become tough, I admit, to find more than 1 seat.
But oooh that wonderful Cathay availability ex-SFO and YYZ. Really incredible, and a really great product. And that's a huge win compared to the past.
Sure, BA redemptions are expensive. But the $1000 I just saw was on a South African redemption with LHR stopover, usually it's more like $700 (hah!).
And don't forget that Thai offers those Jet Airways 777s CDG-BKK with REALLY GOOD availability, especially going Paris - Bangkok (less good Bangkok - Paris).
For South America why not try TAM first class one direction using UA's new one-way partner awards? Alright, the availability's not great there either but at least you'll avoid American and try out a new product, if you've got the flexibility to play with it.