Actually I believe this is an illegal connection because for Qantas to Qantas in terminal 1 the minimum connect time is supposed to be 40 minutes. I am surprised the booking engine allowed 35 minutes (possibly the AA codeshare confused it).
AA 7342 is a codeshare on QF 434. I tried to force QF 680 connecting to QF 434 at several dates, and although the flight times move about a bit throughout the year, I could never force it below 40 minutes (instead I would get a >24 hour stopover).
It sounds like you booked with American Airlines directly, in which case they have ownership of the booking (until the first flight on the booking is flown) and you would have to discuss changes with them. If kayak sent you to a travel agent then the TA would own the booking and be responsible for fixing it at this stage.
Eventually a ticketing robot might spot this is an illegal connection and try to rebook you automatically without any warning, potentially messing up other parts of your itinerary. Therefore I suggest you contact AA or the agent and ask for the flight to be changed. You may have to emphasize that it is a codeshare on QF which is why it looks like it's allowed.