On the last 12 months, I flew (counting only BA metal - ie not oneworld ticketed by BA):

19 legs of ET
18 legs of CW
7 legs of CE
1 leg of WT
8 legs of F

My wife flew 1 return ticket without me where she checked in luggage. I checked in luggage on an additional 4 of these leges (2 return tickets)

Total number of upgrades: 1 (3.1% - not all flights can be upgraded some have no F for instance)
Flight from HND to LHR from CW to F (so actually flew 9 legs in F). Upgrade at the gate after the flights was closed. Opup, CW was oversold but they were also selling upgardes at the counter so I was lucky.

Total number of special recognitions: 2 -3.7%
A glass of champagne offered in ET; a newspaper offered in WT

Total number of problems with luggage: 3 - 50%
1 luggage delayed 3 days on arrival to LHR
1 luggage mistagged by BA check in: delayed flight, etc...
1 luggage delayed 36 hours on arrival to Male

Total number of flights delayed by more than 2 hours: 5 (2 of which linked to late crew and then losing departure slots) - 9.4%

Total number of flights diverted: 2 - 3.7%
LHR - Gibraltar, 2 failed landing attempts, diverted to Malaga. Had to rent a car to make it to meetings on this day trip.
JFK-LCY: a mechanics hit an antenna and broke it, waited 1.5 hours to have approval from london to take off, 1 failed landing attemp, landed in Gatwick. Rushed in a cab to event but still missed it.

Total number of small problems on the plane: 5- 9.4%
2 IFE not working in CW, 1 in F, 1 light dysfunctional in F, 1 lousy seat in cw.

Great crews: 5, Terrible crews 4

Interactions with costumer service: 3
a. to postpone a flight by a couple of hours to recover delayed luggage first - refusal and very bitter conversation / Had it done by another agent in the end
b. to complain about a. received an apology letter
c. to ask for postponment of return flight after luggage was lost, refusal received 7 days after and after the return in the UK.

Total compensation from BA:
2 x 15'000 miles (when broken IFE was directly reported by crew)
0£, 0 miles for delayed and diverted flights
0£, 0 miles for delayed luggage
Of course not all of problems were reported to costumer service but clearly they dont track if you dont.

Special BA recognition outside of flying:
1 cocktail invitation - declined
1 luncheon invitation - accepted

Bottom line:
Upgrades happen but you are much more likely to have a problem on your fligth than an upgrade. Manage your expectations.
Expect little from costumer service.