NSF,
Just a couple of things.
Virgins financial position is and always has been a case of smoke and mirrors. SRBs attitude has always been to show how poor the company is whilst siphoning money out. It has always been in his interest to keep the company private. I am sure the pilots at VS have a good idea what they are dealing with.
With regard to Upper Class vs BA First Class. Upper Class was never meant to be the equivalent of First Class. It is basically business class with some nice seats/sleeper beds. If you want direct comparisons try premium economy where VS win hands down!