I bloody regret not signing up to Qantas' Frequent Flyer program, two years ago, when I, including four other family members, flew with QF from SYD to JFK.
I'm flying Virgin Atlantic to LHR in a few weeks. My ticket is N class... thus I'd only receive 50% of the full mileage of a regular Y class ticket. I thought it would've been futile joining Flying Club... seeing that ~5000 points would get me no where... and VS only flies from Sydney to HKG and LHR, no where else, from Australia. However, after visiting their site, they're offering 100% mileage. Being in a family of five, you'd assume that 50,000 points would get something, at the very least... a bottle of el cheapo wine... Their frequent flyer rewards are horribly limited and oddly enough, VS points cannot be transferred to DJ, despite being under the Virgin group.
Yes, it's free, but I don't know whether the hassle is worthwhile.