Delays and cancelations are not a problem because if there is a delay or cancelation out of Heathrow on the flight to my European departure point, the likelihood is that the first flight on the new ex-Europe ticket will be delayed or cancelled. A delay has no real impact on the ticket, a cancelation as happened at Xmas means that I can then use the first flight of the ticket out of sequence, once you battle your way through the call centre.
As for alternative routes, I prefer flat beds to angled wedgie type. I have used Finnair and I think when LH upgrade their business class product, I will check that out. I understand that Swiss have flat beds so I may give those seats a try soon.
For now though, my system with BA works and works very well, for me.