The only catch: you gotta do 3 if you want to do 4. (Bartering for status had completely slipped my mind.) With no status, you're probably going through security with a "departure management card" and getting your seat at the gate, unless the flight is somewhat less than full. I always hated that feeling when I flew UA without status. Standing there in the gate area, listening to calls for VDB's, lots of nervous people milling around... I knew logically that I was either getting on the flight or getting cash compensation if not, but I still hated it. It's much nicer to have status (any status will do - even 3P), book your seat ahead of time, and then if it comes to it decide to play the VDB game if you like.