Jonathan,a nice post with a good feel for your experience.
I think the loyalty aspect certainly counts for many and on this length of journey it might be regarded as a instant status gain or jump. More on the price point, if it was marginally more it might be factored in that it could be worth it based on the return you are able to get get for doing a trip if your loyalty is focused on BA.
However, on the price you mention plus the product it sounds as if your choice was the right one…
Glad you had a great flight/trip experience.