crAAzy:

I've flown a lot on CX on award F tickets and never been bumped.

I was on CX HKG-YVR on 9/14 in award F, the first flight from HKG to north america after the attacks. Needless to say, the flight was way overbooked with hundreds, maybe thousands of people waiting to pay full fare to get to north america. CX not only honored my reservation, but didn't take me up on my offer to volunteer. (CX doesn't seem to have a volunteering plan)

My only complaint in this area is that CX is not so good about honoring pre-reserved seat assignments - they often give me different seats from the ones I booked. That's a pretty minor issue given that all F seats are great.