Wow this is going to be tough. There's so many! Well, the HoKeY fares on Continental and LUser fares on Delta immediately jump to mind as being contenders for WORST features of each of those programs. HoKeY and LUser refer to restrictions on what fares are upgradeable (H, K, and Y = international upgradeable on CO, L and U = not upgradeable on Delta).
Randy, your question reminds me of a thread on United from a few months back where a person was trying to decide between UA and CO, and in the response was given top 10 reasons why CO is better, and top 10 reasons why UA is better. I thought that the "top 10 reasons" was a great way of directly comparing two programs and gave a great deal of information. You can check that thread out at
http://www.flyertalk.com/forum/Forum50/HTML/007783.html
(Edited to fix link)
[This message has been edited by anthonyanthony (edited 12-06-2001).]