I'll try to narrow it down for you, Mr Optimistic.
"Old" Fleet (both long and short haul) have a complex and expensive allowance system. New fleet (MF) has hourly pay (like LGW) on top of basic, so much simpler structure.
Last year, MF was offered to come off the table, but union decided it wasn't good enough and called strike. Due to financial impact, MF was brought back in.
Current crew at LHR are paid varying allowances for varying destinations. Long range such as Narita and Singapore attract great allowances, as does the Swiss destinations on Short haul. The current crew are convinced they'll be left with low earning destinations (Africa and India) whilst MF take over Long Range routes. BA have offered a "top up" payment for current LHR crew, to ensure they won't lose out, regardless of routes "lost" to MF. The figures are based on financial year of 09/10.
MF cannot fly with current crew as union will not allow it (they didn't allow it anyway, who knows, they might have changed their minds now).
Militants refuse to read, hear and/or believe anything BA says.
Hope this brings you up to speed on a few things