I did jump from the VS Cancellation/Refund straight onto a reward seat with BA. And that also was cancelled by BA due to the Trent engine issues. It was rebooked via BA, and with BA picking up the extra costs of changing some internal flights and the additional hotel night stay i needed. The rebooking process was very slick, and could be done online, with confirmation immediately.

The lesson for me here, was to hold firm, hindsight is a wonderful thing, but this was a reward flight, with an upgrade, so was a little more complex and the first time I had been in this position with any airline.