I have had decent success using the upgrades but they are PER LEG. Most of the time I have had one long haul and a short haul so I just upgrade the long haul. My route was primarily Cape Town to europe and back.
As far as it being a good deal or not, I think it is pretty good. My Lufthansa Senator status gets me 2 every 2 years vs. 2 every year with TK.
TK is what it is. A decent airline at generally a great price.
An (formerly) African Nomad