Hey all, sorry for the alarmist title but I figure I should save what's left of my sanity for the road

I am currently planning a RTW journey to start in 2010 (late summer/early fall), and have enough saved up now to buy the first couple legs of airfare for myself. I am really hoping to buy tickets now, because A) that then forces me to make my dream a reality, and kick "savings mode" into high-gear and B) because tickets prices anywhere are so cheap right now, but starting to look like they are on the rise again.

My hair-pulling dilemma is whether or not to go with a RTW ticket for a few major flights, or just do the one-way thing. I will be flying out of Los Angeles, and starting in either Australia or South America, so one-way tickets to either of those destinations are really cheap right now ($300-$600). I especially want to take advantage of the great deals to Australia, as that is traditionally a destination that eats up a lot of airfare travel money.

My main concern is getting the most bang for my buck in terms of tickets, and with the research and quotes I have gotten for RTW tickets, it seems to me that I would be better of snagging some the great deals going on right now on one-way tix, and then buying cheaper tickets to my further destinations overseas (i.e. Thailand) or using some sort of regional airpass.

Any suggestions would be greatly appreciated, and I look forward to being an active member of the community!
~Liz

Ah Liz, to buy, or not to buy: that is the question:
Whether 'tis nobler in the mind to suffer
The slings and arrows of outrageous indecision,
Or to take arms against a sea of sales,
And by purchasing end them? To plan: to wait;
No more; and by a plan to say we end
The heart-ache and the thousand natural shocks
That flesh is heir to.

Or to say it another way, Liz: hell if I know. Do you buy now, save a few bucks, but risk locking yourself into a route and plan too early? I know I personally buy my tickets at most a month out because I'm an indecisive twit. But I think individual mileage may vary in this situation, so it comes down to how rigidly you want to plan and how early you want to lock that plan in.

For me personally, I would buy the initial ticket from home to your starting point a few months out when a sale rolls around. And no other tickets because I like the idea of taking the trip as it comes. I don't think that is for everyone though. Good luck with whatever you decide

"Alas, fare-wars tix. I knew them, Poor-rates-io."

I think it's almost always best to buy one-way tickets as you go: it affords you more flexibility, and also gives you the opportunity to take advantage of those deals in places like Bangkok. The one thing the RTW tickets (supposedly) have going for them is they can make the longhaul intercontinental flights cheaper. But If there are good deals on flights to Australia right now, that advantage is pretty much negated, no?

If I remember correctly from my research when looking into this question, the only time it really makes sense to purchase a rtw ticket is if you want to travel between Australia and South America as those are by far always very expensive- otherwise there isn't much difference really. Plus if you want to do something like that you can always do Santiago- Easter Island- Tahiti- Australia, which would probably be quite interesting!