Here was a small comparison between CO's BF and LY's F: El Al First vs Continental Business/First. I agreed that BF should be compared to F, though ebzed felt it should be compared to C. I agree that it's ridiculous. CO is far superior to LY's C. I think it's slightly better than CW, especially on this route since it's direct vs stopover. (The EWR-LHR route, CW does have a stronger case. And BA's F is clearly better than BF.)
But it's a preference. You kid about the menu, and while it's not worth a difference of $1,000, there is what to be said about getting a true Biz Class dining experience on LY (for those who keep Kosher,) which is unavailable on other airlines.
And of course this link, LY misses the point of 'Premium' in Premium Travel, starting especially from Post 11, where ebzed does feel it's worth it to spend the money on LY premium cabins. You should probably ask him for some advice