....or maybe just checking through but protecting my reservation?

I would value the august opinion of the board....I have a return flight booked from LUX - LHR - LUX in a few weeks. Work paid for that one, as my home office location is London and I'm taking 10 days vacation.

Its booked in I class.

For my vacation I have booked I (MFU->F) LHR-MIA-LHR, separate ticket.

Here's my question...on my return, I am on BA 206, arr. 0640 and then onto BA 416 (0830).

Do you think that I will be able to collect my BP in MIA for the second flight? Check through my bags?

and what would BA likely do if the 206 is delayed?

Thanks in advance.
LF