There's no longer any point in comparing old and new because the system is already updated. Furthermore, it was not differentiated by long haul vs short haul, but rather by whether is the route only involved in a "removal of 15% discount" or is it topped by a miles adjustment. The cash portion is dependent on the YQ, which is location specific and not based on distance. Say you redeem tickets to HKG after today, you will only be worse off compared to yesterday because HKG does not charge YQ at all. You simply need 15% more miles and save zero on cash.
Decent deal! I'm in a way preferring the new system because the cash outlay is simply lesser. Just made some bookings for the year ahead, 6 return tickets in mixed F+J costed me less than $1k in taxes.
6k miles shouldn't be a problem at all, it's simply $1.5k on a 4mpd card