I do not travel all that often, so I'm turning to the experts for advice!

I am planning a vacation to Rome from 4/26 to 5/4. I have 200K AA miles, but there are no seats available for miles. The best fare I can find online are about $875 per person. Any hints to sharpen the price--should I wait and see if the fares come down or buy now?

Is there any chance of upgrade if I but an AA ticket in coach? I have over 40 upgrade segments, and can never seem to use them(I'm Gold status).........

Thanks in advance for any ideas that you may share.