Interesting analysis. I think we all know that CO's OP program has fallen quite dramatically in the past couple years. Add to that my recent dismal upgrade percentage as a plat and I'm seriously considering defecting to AA.

The one intangible plus that CO generally does have is, IMHO, "the most professional men and women in the air." I have to say that, with very few exceptions, CO takes pretty good care of me, especially when there are problems. I have found the service on AA (the other airline on which I'm elite) to be much more hit or miss (with a lot of surly employees). Of course with AA, I'm always upgraded (albeit at a cost, as a mid-tier elite).

Cheers,
Brooklynflyer