It was predicted that BAA may be forced to hive off LGW as part of the imminent review. Personally I think that is the best thing for LGW so it can grow and thrive as a real alternative to LHR - in the same way EWR and JFK both do for NYC with good connections from both.
I think if BD moved their whole LHR operations to LGW (and gained a stack of cash for their LHR slots in the process) and started their new long haul services to the USA from there it could be the absolute making of LGW. And in the process, provide a true competitor to LHR with good onward connections - should also improve LHR too as they will be forced to compete with a real alternative.