I totally agree. I only have experience with 2-class carriers, but what I hear about 3-class carriers and reviewing their seat and meal data brings me to this conclusion.
The three main US two-class products, Delta, US Airways, and Continental, all have a 55-60 inch pitch, First Class seat width, etc. The meal is multi-course, etc.
Where as on United and American, the two-main US carrier three-class, Business is much worse than Biz/First on CO/DL/Us. The seat pitch and width are smaller and the food is less impressive (On United, fruit OR cheese, not both!).
I think the Biz/First product compares much more favorably with UA/AA's First Class! NJDavid posted a trip report comparing Continental BusinessFirst with American International First Class!