I was Silver at the time, my OH was Gold, but I don't think it made any difference (possibly with the exception that we actually did get a decent response when we complained about the utter lack of proactive anything from customer services). To my knowledge, some compensation is due certainly if you're left overnight without your bags. 'Reasonable expenses' tends to be the standard phrase, although whether there's a difference between how different airlines interpret that, I wouldn't know. For a two-day delay, you certainly should be entitled to refunds for necessary expenses - there's a thread about compensation, you may already have seen it. Hope it helps in any event.
http://www.flyertalk.com/forum/briti...61-2004-a.html