After posting it, I realized that what PremEx mentioned is the only thing I could think of. And that's only on United, no other airlines in my experience.
In regards to that United program, who gets the meal choice first: 1Ks on upgrade or non-status revenue pax?
Richard makes a good point too: More often than not, paid FC, status or not, gets you more than a status upgrade. This is only true on "premium" flights I think.
If your flight is cancelled or delayed and you need a reroute, will your experience be better as a coach/upgraded elite or non-elite First pax?