Just to add to this...
Scenario #1:
Colleague and I on same flight, both Plat; both 'N' fares. Checkin online; I am #1; he is #2. Upgrade at gate - 1 seat left, I get it(no other higher fare classes above us)
Scenario #2:
A week later, exact same thing - EXCEPT, EUA goes 3 hours before flight and he gets the last seat. Why - b/c even though we both have 'N' fares, he bought his 13 days before flight, I bought mine 9 days before flight... pre-airport EUA uses booking date, not check in time.
So, the CO upgrade policy of:
"Booking date/time: All else being equal, the sooner Elite members book their flight, the better their upgrade chances.
Check in time: If your upgrade is processed from the standby upgrade list at the airport, check in time will be used in place of booking date/time." is definitely being followed.
Overall guess that means ya gotta be the first to buy the fare class and first to check in to have the best shot at the upgrade(all other things being equal)!