I just flew a BF 757 EWR-LHR and really enjoyed the experience. For an East Coast to Britain flight, no it's not a flat seat, but yes, it's a well-designed, electronic recliner, and the service is really very nice, a bit more old school than BA, but in my opinion, neck-and-neck contenders.
I would suspect, as a now nominally lapsed but basically BA flyer, that BF service with the new flat seats is real, serious competition for BA Club World. I don't think the service in Club World is over the top, but appropriate, and I find the portions in Club World meagre (but I don't eat much on planes), much less so CO.
Incidentally, how are Continental's industrial relations, pension schemes, management, and upcoming strike schedules? Oh yeah. That's why I'm on Continental next month.