I agree 100% with your assessment. I've flown with Continental and Delta in business class within the past year.

Back in the 90s, BusinessElite was awesome: very polished and warm service, edible food, and nice lounges in New York and Atlanta. It's kind of fallen apart since then. The service is spotty if not hostile, the food is hit-or-miss, and the seats are painfully cramped on the 767s. The BusinessElite lounges are gone, as are the concierges.

Continental has the amazing concierges, very good food, and usually more consistent service (not always). Continental's lounge in Newark is just okay, but I like the one in Houston. Newark has its faults, but it's still a lot nicer than JFK 2/3. And customs is a lot better in Newark.

Delta wins in terms of blankets and pillows (love those), and nicer dishes. They also have better entertainment in on the 767s. Everything else is better on Continental.

ONe additional point: Continental has unquestionably better domestic first class. So--if you're like me--there is a transcon plus a transatlantic segment. Continental has exceptionally good service on the domestic segments, which makes the trip nicer.