I do this trip 2-3 times per year (after taking the coach from LHR).
The 737's seem to be the same aircraft BA operated from LHR to JER (until a few years ago). For those of us stuck in coach, the last few rows are actually the most comfortable since they are the only ones without fixed armrests. There always seems to be a BAA survey-taker at the LGW departure gate. I think they're trying to justify not serving Jersey at all. You can also take JY (FlyBE) from LGW-South on their AVRO-BAE-146-equivalent-thing. I had a lot of trouble understanding how Jersey survives without service from/to LHR, but then I realized that all the bankers and solicitors are on the ATR to LCY. Crosswind landings at JER are interesting, to say the least, as are the takeoffs, which basically happen over a cliff. You're a bit better off if your pilot was Royal Navy, as opposed to RAF.