Well I'm not running it! But if I was then these are some of the changes I would introduce:
1. Cap the annual earnings from partners (including Tesco!

) to say 100k BA miles.
2. Make long-haul award redemption (at standard rates) in the Club/First cabins only available to Silver/Gold/Prem card holders. Blue members could redeem at standard rates in ET/WT/WT+. For Blue members to redeem in Club/First they would need 1.5x the standard award miles for that cabin.
3. Allow the GUF2 to come out of redemption buckets again, and issue a GUF2 for every 1000 TP's earned after status renewal.
4. Allow Gold members the benefit of one award ticket a year (to any BA operated destination) that can be booked in the NCW cabin subject to availability of revenue bucket I/D with 14 days notice.
These changes IMHO would make the BAEC program a lot more worthwhile to people who actually contribute to BA's revenue. Although I'm sure a few of you will be thanking heaven that WW is not having similar thoughts as me. (Yet!)
P.S.: Hopefully this should fire up a quiet afternoon.