I might fly 4-5 times a year, so upgrades are out. Things are good enough for me that when I do need to fly, I go first (esp. with A/D/_UP fares), for all the reasons mentioned here. I'm sure that my spend (mid-4 figures) is dwarfed by all but the most trick-using of even mid-tier flyers. Couple that with the fact that >3 out of those trips are business and deductible, it's worth it to me.
(Are you also "BaylorGirl" who just asked this question in another forum?)