Article in today's WSJ that competitive pressures have caused some airlines to price some first class fares cheaper than coach.

http://online.wsj.com/article/0,,the...nside_today_us (subscription probably required)

In Mr. Waters's case, US Airways and other carriers were matching cheap first-class fares offered by America West for trips that have to end by March 31. US Air lowered first-class prices in nearly 100 markets; other airlines did the same. Tuesday, a search for Philadelphia-San Diego nonstop flights on Travelocity, US Air's cheapest unrestricted coach offering came up $2,412 for a flight departing Jan. 27 and coming back the next day. But search Travelocity for a first-class seat, and you get $524.