Thanks for the advice guys.

yyzlhr - I wasn't aware of the Arabian Airpass so I've learned something already and it looks like a good option. My Tier Miles will be exactly 1,000 short so a Saver fare will do. I have started seeing some Saver Fares on other routes over the last couple of days so they may become available once the whole Skywards reshuffle works itself out.

ung1 - My sectors are Europe West to Dubai and Dubai to Far East so it might work out more for the upgrade. However, I have noticed when doing some dummy bookings that the website comes back saying that it's giving me biz class for both legs (of either the outbound or inbound) to get the best price. Is this usual or can I "force" it to give business on one leg and economy on the next?

I don't mind paying a bit extra to keep the status as long stopovers are always a risk and upgrades always a bit more likely.