Yup. Now that I think about it, it seems that significantly overbooking these flights would be very dangerous for BA. Like Globaliser illustrated, they probably don't get that many no shows. With this in mind, some restrictions do make sense.
I think the no changes restriction is a no-brainer, but I think that some sort of investment protection (for example, rebooking in F permitted) would've been in order.
Well, I'm happy I managed to get one of the last award seats so that I don't have to worry about this