I definitely won't make any special effort to fly BA anymore. It's the loss of 100% earning on economy tickets that's really put me off. As someone who would only buy economy tickets for personal travel, that was a huge bonus that, for me, really set BA and the exec club apart from their rivals.
In a way it's alright though - now I feel a bit more free to simply buy the cheapest ticket, so I imagine I'll be seeing a lot more of Norwegian and Easyjet, and probably AF/KL and (gasp) probably VS too!