layz

I'd say for non-frequent flyers there's no longer much difference. Frequent flyers get the benefits of BAEC. My gold membership make flying shorthaul a much more pleasurable experience.

But for the occasional price concious flyer they must come out about equal. BA and the LCCs both give discounts for not checking in bags, most LCCs now allow you to select a seat for a fee (like BA, but BA allows you to select for free at the 24 hour mark, I believe EZY allocates at random). BA has complimentary catering (but can amount to an individually wrapped crisp on shorthaul) and a fairly decent bar selection but the LCCs have better variety and selection because they need to encourage you to pay for it.

If you want lounge access and are flying from T5 you need status or business class. Most other terminals and airports (including the ones the LCCs fly from) have option of a paid lounge.

Some people may find LHR/LCY most convenient, so BA wins. Others may be closer to LGW (so BA may be an option but more likely EZY will fly where you want to go) or LTN, STN or one of the regional airports where the LCC may fly direct.

For me personally: I prefer BA and I prefer LHR in general. However, EZY generally also have good crews and when it makes sense to I actually enjoy flying them. I've always paid for the front row, fast track and speedy boarding, bought something decent to eat and a few beers and it's not bad at all. These days I will look at EZY whenever the BA price drifts into crazy territory, that's only been a couple of times at most.

Ryanair have tried this year to be more passenger friendly and finally started aiming at business passengers. Not sure how well it's going because they don't fly to/from anywhere I want to go. But if they did I'd now consider them.