No, for the most part, TWs FF upgrades worked more like CO and NW. Free upgrades for all elites, though it might have changed for the lowest level of elite in the final year or two. 100 hours for top tier (and a free companion), 72 hours for mid-tier ($75 to upgrade a companion) and 24 hours for the lowest tier. Free at time of booking for all tiers on full-fare tickets, I believe. Also, much expanded award availability for top tier elites (maybe even no restrictions/capacity limitations), I don't remember...
The ex-TW 757s are much better than the AA ones IMO. Much better IFO, like the F seats better, plus two real exit rows in Y with tons of legroom (row 7 and 26, I think)