I posted the following on the CO thread when someone was talking leaving CO. I think it's a good question. With all the downgrading lateley is "Loyalty' really important anymore? The following was posted and my order:

BWI, I think you have your priorities straight. In my world other items supersides loyalty to a particular airline. As a weekly flyer I would put my order:

1) Who gets me home the soonest
2) Who gets me there nonstop or direct
3) Price
4) No RJ
5) Chance for an upgrade
6) FF program
7) Loyalty

Because I live in Dallas AA or WN usually is my choice. Although I like the AA upgrade, many times WN wins due to frequency. But if I am flying to PHL and US gets me home sooner to be with family, my Beagle and pool side guess who I am flying.

I think you made the right choice.
MrMan