Infinitely more useful (literally, since I've never used an eGUV because from the time they introduced them I've never managed to fly on BMI with a BD code). By comparison, I've only been 1K for a year and had 100% success so far on the 5 I've tried to use (1 used for LHR-LAX-SYD, and another for the return which is fantastic value for a SWU; two turned in paper SWUs for use on LH for trip to Japan and back, and one for an overnight TATL). YMMV.

I don't expect to always succeed in using them on my desired flights, though careful research as to which days/flights have most availability improves chances . Note one can't book into the very cheapest booking classes though, so if you are constrained to always doing this then it's less useful, but there is still a reasonable range. There are of course also many more possible flights to use them on. You also get CR1s (even as Platinum with a qualification of 75k miles) which can be used within region 1 (North America). They also have unlimited domestic upgrades, but these are relatively scarcer and depend a lot of status, fare class etc, but again I've had reasonably good op-ups on these. CO also has time of purchase auto-upgrades from M fares which I've used at least once.