According to the Flash presentation linked here:

http://plane.lan.com/info_viajes/cla...ess-en-us.html

LAN's A340 conversion to new Premium Business Class with 180-degree lie-flat J seats will be completed in April 2009. On the same page however it says that the 763 fleet is both 95% complete and 100% complete, and they spell Airbus as "Aibus" so attention to detail isn't their strength. Anyway, looks like a few more months and it will be 100% 180-degree lie-flat J between SCL and MAD on LAN, and probably on all intercon routes.

IB on the other hand has angled lie-flat on their A340s. I think I've read before that the bulkhead rows actually do recline to 180-degrees, but the row numbers and cabin layout are different between the A343 and A346 so the information is never clear. IB.com has old seat maps so no help there. Given the distance, isn't the SCL-MAD route always going to be an A346? Not sure.

IB BusinessPlus does have a good reputation for wine selection and promotes this heavily. Others who've flown BusinessPlus can add their personal critique.