Europe: Premium Economy Plus Seats vs. Wholesale Discounted Business Class Seats?

We are pretty infrequent flyers and not that savvy, so tend to book directly through an airline. We did do a package through Costco a few years back that worked out well. On recent trips to London and Scotland, we traveled British Airways premium economy. I'm 6'2' and a knee replacement, so I beg for all the leg space I can get. We have been happy with BA, and typically it is a 787 or on occasion an A380 aircraft out of Chicago O'Hare. Comfort has been fine and service very good. On a recent trip for DW and DD to UK, they experienced some short notice flight cancellations that caused a panic. DW is deathly scared of flying, so any last minute change to the plans really does not go well. It seems all the airlines are having cancellation issues right now.
 
I flew on AA's premium cattle, eh, economy class from LA to Heathrow at the beginning of the June, and not by choice. I wanted to book BA's business class but DW talked me into booking premium econ with AA and said she has unused points that could be used to upgrade me to AA biz class. Except the flight was overbooked and I ended up getting stuck in premium econ for the 10 hour flight.

I would NEVER count on upgrading with points. DH and I managed that only once- it was on the way home from Scotland in October, 2001 when no one else was traveling. Unfortunately, it spoiled DH and he decided he liked Business Class better for his 6'2" frame and creaky back!:D
 
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