Get over it WeeMileHoar! A number of posters have given plausable explanations for what may have happened.
You ain't the first and only one to be denied an upgrade that you so obviously deserved. You ain't gonna be the last.
You could get the same or worse treatment on any other airline, if that's the worst thing that happened to you after flying 100,000+ miles on Continental this year you should light a candle for the Patron Saint of Frequent Flyers. (Who ever that may be)