This topic (the midyear elite upgrade) is particularly pertinent to me. I just passed 50k flight miles on Monday (the miles posted yesterday, Tuesday night) so I should be eligible for an upgrade in elite status from Silver to Gold. I have a flight out this coming Saturday; it would be nice to be Gold so that I could get a first class seat early (before they are all taken by other frequent flyers!) and it would be nice to get the 2x mileage bonus.
Obviously I'll be watching really closely in the next couple of days to see if my status gets upgraded before Saturday.