I wouldn't expect status benefits to change, at least not right off the bat. Also, even on IB's cash HBO fares, OWS and OWE (and IB OWR) do get the free checked bag still, so I would be surprised if this wasn't followed on award bookings too.

Anyway I've been using up my Avios a bunch because the deval is coming for sure. My most recent award (in economy) was still just called "Economy" rather than "Comfort", and that was booked after 1 May…