I've never taken a flight on BA but I just transferred 140K miles into my account from Diner's Club double miles promotion. BA usually runs this in the summer.
I originally planned on a couple of W+ tix but now I'm saving for at least biz class. If I keep putting miles in (hotel hopping, etc.) I'll wind up with enough for a Concorde out/biz back or something like that.
Not sure if I'll make it in 2003, but at least it's a do-able goal to shoot for.
Priority Club (Holiday Inns. etc.) is running a double miles promo in January. A bit of hopping there could get you 5-10K miles in a short time.
Lots of ways to get the miles needed. If you're bound and determined to pay ($12,000 R/T?)...well, God bless you.