The number of Elites on CO seems to be growing. CO seems to have a smaller base of travelers - with a higher percent being Elite. Hence - upgrades are getting harder to get.
On a recent IAH-DCA flight - I was the only one upgraded (battlefield) - even though about 2/3 of the flight was Elite when the Elite Access announcement was made. The flight was also only about 2/3 to 3/4 full - so very large Elite population. (At least when boarding - the GA was nice enough to tell me that she may have one FC seat and I would get it if it was open - later she came down - a la battlefield).
CO seems to becoming an airline for the "haves" crowd (versus "haves not"). Seems like everyone is Elite, can access the PClub, and eligible for upgrade.