TW is a very good airline with lots of experience. I think they are about the only airline that can show great First Class treatment on their flights since they have been around for a while. I choose TW as my first airline when I made my first trip (4 yrs. ago) and I have been with them since. I only use them for my long haul flights because the times are bad for shorter trips when I have to connect. Their First and One cabins are pretty nice. The One cabin on the 767 has good recline and pitch and the attendants are very attentive on the European flights. The food service is plentiful and never can get hungry cause you will be stuffed after 8 hours. I did take their First cabin to SFO on Labor Day weekend this year and was very disappointed. My last trip in First was to ANC Jan 00. During the SFO trip, their were no linen napkins for the serving of food, we were given a paper napkin and silverware in a plastic bag (like the main cabin is given), and the meal was only one step service. It was a lunch flight but for 3 hours and 40 minutes we should have gotten dessert in addition to a cold sandwich and cole slaw. My ANC trip was linen and the full F service so I don't know if it was that flight or if all of the service is that way now but I was disappointed.
Their elite program offers complimentary first class upgrades (even to HI unlike most US carriers) to Elite 1 and Platinum members. Elites are allowed upgrades but they must pay a reduced fee. The program has one aspect of no other US airline. It offers complimentary Elite upgrades to its One cabin on Transatlantic flights using only the elite card. NO MILES required but it applies to Y or B fares only...one down side. Other than that, the program is pretty fair.
TWA is about the only US airline that cares about reduced flights for student travel. I am a student and you may not care for that benefit but it is another reason the airline sticks out above the rest. Despite what others may say, TW is here to stay and won't be going bankrupt anytime soon.