For me, flying in First or Business is nice, but if I don't get upgraded, I still get the choice of the best seats in Economy... but really it's the other things that make it worthwhile. When things go wrong, I get incredibly good customer service, If I miss a connection due to weather, I get the paid for hotel while others may sleep in the airport or have to pay for their own hotel. I can SDC, and for me one of the best things is I can change the award tickets as often as I want. ^
Honestly, I think that having status is so much more than just getting free upgrades.