mdb, if you do a search for my username and "FD" in this forum I think you'll find a thread with the whole story. Basically, I started to and then chickened out due to a couple of horrible experienes with FD on the phone coupled with a couple of other major gotchas: your account goes into limbo for around 8 weeks during the transfer and almost everyone who has done it reports missing miles during this period, some of which are never resolved. You are also restricted to ONE transfer. You can't switch back and transfer your miles/status.
My flying has changed now, and my intra-europe flights are usually on AF or IB b/c KL is just useless from BCN. All of my long hauls are still on NW/KL, and I can't see giving up the better int'l upgrade opportunity and free lounge access in exchange for F when flying US routes on CO (especially now that they don't count for squat).
After this upcoming mileage run I will try to stay put for 8 weeks and go ahead and pull the trigger.
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-alan in sitges, home of
Si-Do