I think a strike is the worst thing to hope for, if you are looking to be bumped:

- if the airline is flying normally, and they can't accomodate you on a flight, you'll get a bump

- if the airline is flying with some difficulty (ie. labor dispute with UAL pilots), they might give you something to compensate you for any inconvenience

- if the airline is not flying at all, you should just hope they get you onto another carrier's flight.

Note that with AA's strike in I think 1997, USAir's non-strike in 1999, and UAL's problems last summer, any 'bonuses' came after the disputes were finally settled, and came basically in the form of bonus ff miles for future trips (UAL reduced mileage levels, basically the same thing).

If you want to 'cash in' on a strike, I thing the best thing is to wait until it's over, hope they have a decent welcome-back promotion (fare sale and/or bonus miles), and do your travelling then.

Jeff