I would say the the first time you hit EXP it is like getting 400,000 miles in upgrades (16) for your 100,000 BIM or qpts. That isn't so bad...
As for flights to porto, rome or other more exotic locales. You can fly to London and connect fairly quickly and not for much money on BA, thus staying within the world of one and accruing more pts or miles. BA is actually pretty good with giving AA EXPs preferred seating and you can use the gold card holder check in. The ability to use the Club Europe Lounges for a quick stop and a check of work email is not a bad perk either.
However, I'm quite content to fly in COACH for those short hops. The difference between clubworld europe and coach are quite miminal on short hops.
Others may feel that sitting with Coach travellers to be beneath them.
lala