I flew recently back from South Africa on B.A premium economy and to be honest I really enjoyed it, I think the cabin only had 5-7 rows and it was really good, nice and quiet, comfy seats and plenty of leg-room. I also wanted to go business class but could not justify the extra cost for the 3 of us.
I guess it really depends on how much you can afford it, personally I'd rather have the extra £1200 saved.