I gotta say waitlist now.
I'm not sure, but my gut would say that not too many upgrade seats are going to be put out until pretty close to flight time and who knows what the base coach ticket prices could be by then?
Also, with what I assume is the cheapest coach fare you've cited it might be worth looking into what the total cost of the ticket + upgrade fee turns out to be. *Maybe* (but maybe not ) an H fare with a $100 upgrade fee could wind up cheaper than a cheapo fare with a high a $500 each way upgrade fee......and then you'd get 150% EQM too.
Also .....does your wife have gold status too? If no then you might want to split reservations. (But then you have to be willing to only let one of you sit up front if it turns out only you clear). Otherwise if she has no elite status if you leave both of you together you will be put at her level for clearing the list.
Enjoy BCN ...I love it.