I would like to see some data points on how often downgrades actually occur. Yes, we hear about a downgrade about once a year...and that's only because someone has a strong SM presence and wants to let the world know their business. I would imagine the downgrade rate is extremely low and shouldn't be something most people should worry about. I've been flying for over thirty years on mostly booked FC and have never been downgraded. I have taken cash vouchers a few times on overbooked flights where I volunteered to give up my seat.