One thing with SWUs, though, is whoever is using the SWU doesn't always inherit the status of the sponsor. For example, if I use the SWU for a non-status friend on a flight I'm not on, he will be at the bottom of the UG list -- i.e., he doesn't appear to inherit my EP status. I've also seen this happen with SWUs when we're on the same flight yet I booked F/J and am trying to use a SWU for him -- i.e., he doesn't appear to be inhering my status as a companion the way he would with domestic upgrades. I caveat all of this by saying it's not always crystal clear in some situations since the upgrade list doesn't show rolling LPs, one's current status, or the instrument being used.
(I don't have any of these issues with domestic upgrades, even when I buy F and I list him as my companion. He's clearly listed as an EP based on his order on the list, usually #1 or #2.)