Drowning in a Sea of FF Plans

Question
I am currently neck deep trying to figure out which Airline CC rewards programs I should join. My current choices are British Airways, Cathay Pacific Asia Miles, AA Advantage, or AVION VISA (by the Royal Bank of Canada). My issues are several:
1) Seeing as all 3 are part of One World, which one is the most comprehensive?
2) What are the pitfalls of each? (ie. restrictions, best-before dates, etc)
3) How easy are they to redeem?
4) What are their benefits? (ie. lounge access, preferred seating, expedited boarding, complimentary upgrades, etc) I've checked the airline websites and for the life of me I can't find enough info.
5) For those of you who have AVION, how easy is it to redeem? Any blackout dates? What are the chances for upgrades and other frills? How many hoops will one need to jump in order to translate points to a trip?
Any and all assistance is VERY appreciated. I'm going to go on a trip to California in June (Trip Report to follow) and would like to get this all set up before then. It's making me lose what's left of my hair!!!

Answer
Drowning in a sea ... just doesn't fit.
Wouldn't a more apt subject line be something "Vision Clouded by Lofty Number of FF Programs?"
and better suggestions?

Answer
I just booked a trip on Air Canada using my Avion points. RBC purchases the tickets, so no blackouts.
There are some crappy limitations though:
1. The ONLY fare class they will book is Tango+ on AC. That means you would need to use a SSWU with an avion reward ticket.
2. As per (1), no Business class rewards.
3. Price caps. In-Canada long haul (e.g. YYZ-YVR) is 30,000 Avion points. 30,000 covers $750.
I had the BA Visa before this one. I switched because the Avion allows you to transfer points over to BA if you want while still allowing you to book on other airlines.
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