Wow- the SWUs look very similar to AA. DL has to up their PMU ante at this point as the CO SWUs are basically everything Delta's PMUs aren't (except for being capacity controlled)
From COInsider:
" * They’re valid with all published fares. And without any upgrade co-pays!

* They’re valid everywhere we fly. These upgrades are good for a one-way upgrade to Domestic First Class, International Business Class and BusinessFirst on any flight operated by Continental, Continental Micronesia and Copa Airlines. One certificate equals one one-way, no matter how short or how long.

* They’re fully transferable. You can redeem them for yourself or anyone you desire, regardless of whether they’re traveling with you

* They’ll have the same capacity controls as OnePass Upgrade Rewards. Specifically this means R class on Continental and F class on Copa