I find them quite good up-front (flown Business a few times with them on UK to Spain routes)... but not sure I would ever fly down the back with them ever again. Still in therapy from a Y trip with them a couple of years ago!

On the subject of IB and OW however, I have found Iberia the OW carrier that most recognises status, funnily enough - I have been upgraded by them on almost every single trip I have ever taken with them (in fact on every trip I have taken with them that involved a short-haul flight connecting to a meduim-haul flight they have upgraded me on the short-haul on both the outbound and the inbound).

Shame that when I was stuck down the back it was so bloody awful !