Ferris, I think you might be onto something there actually. Long haul Y operation (decent operation) wouldn't go amiss in these hard times. Perhaps a certain amount of GF pride would have to be swallowed to be brave enough to ditch F and J completely, though. But the concept of yours is a good one, IMO.
If they wished, the could supplement the operation with A319LR's in all J config for routes which still carry "some" demand for a premium cabin.