I'm sorry you had bad experiences, but most of those were not status related and can be enjoyed travelling on airlines other than BA (as you found out!)
All of my air travel is self funded and not business related. As has been pointed out many times, a lounge is just a glorified waiting room. Some are better than others and how well they work for you depends on what you want from them and matching that up with what they have to offer. Doing one's homework helps increase one's chances of success at most, and prepares one for the sub-par experience at least.
In the end you'll need to decide if status is worth it for you. No one else can make that determination. What c-w-s said about voting with your money is right one the... well, money!
For me, it is worth it - that having been said it looks like I am probably dropping down to Silver after this year, and I'm trying to convince myself that I'll survive. Not sure it's working though!
rb211.