This is taken from the Qantas website...
Introducing a new class of travel with Qantas. Premium Economy will be rolled out on our B747-400 services to London via Bangkok, Singapore and Hong Kong, plus on services to Johannesburg from next February.
This new inflight experience offers wider seats, more leg room and a greater recline on your seat. Your entertainment screen will be deployed from your armrest and features a noise-cancelling headset. The service also features a Neil Perry-designed menu and access to refreshments throughout your flight. And you can enjoy dedicated check-in and priority boarding.
Premium Economy will also be available on our new A380 fleet, arriving in August 2008.
I've also tread elsewhere, that the seats will have a 42" pitch (biggest of all airlines offering Premium Economy) and a seat width of 19½" - good for all of us with large asses !!