My understanding is that a number of years ago QF actually did reserve some slots on the 777 production line and put down some coin for them. I don't know for how many (10-15 springs to mind as a way that QF ordered aircraft four or five years ago) and I don't know when they're due (but a time frame from 2010 doesn't seem unreasonable) and it'd be pretty damned easy to sell them on to someone else should QF decide to not proceed.
Still, the 777 is 'old technology'. We couldn't possibly buy them when we still have the 767s to fly around for the next six or seven years!
