I'm a bit skeptical about this "time of reservation" bit. We seem to think the earlier the ticket is purchased, the higher the priority (after the other factors are taken into account). However, maybe CO means that the MOST RECENT purchase will have the priority -- this because the more recent, the higher the cost of the ticket (usually), so his might actually be another way of stating "ticket type" gets priority.
I feel a bit concerned, since I usually fly to events planned well in advance, so I get the advantage of more discounted prices, PLUS my Co. gets additional discounts on top of that for having CO as preferred airline for heavy volume. So this "cost of ticket" issue may really effect me.
Well, five flights with 15 segemts in next 10 weeks, so I'll find out soon enough!