I might be wrong, but think that BAEC status would get lounge access on AA domestic flights whereas AA status wouldn't.
Well yeah, but is lounge access all that important to miss out on other benefits?
That's what you essentially get with BA as a Gold.
I find getting upgrades much more important than lounge access.
If I can spend economy money but fly in premium cabins more often than not, I can't see how getting lounge access can balance the substantial cost savings that offers.
In case of connections, yes lounge it's better than not having access but for direct flights I can't be bothered turning hours in advance to "enjoy" the lounge. I would rather be more comfortable in the air.