I know all that, have taken advantage of it, and am grateful for it, but the market has shifted and best value is not anymore the monopoly of the LoCo's. Equally the LoCo's have shifted their business model more towards the traditional carrier's style; hence we are talking about reserved seating, premium this & that, flexi tickets etc. etc. The difference is now smaller than it was so it is really a time for buyer beware and do some research. I travel many times on a route served by both types of carrier. More often than not the traditional carrier's final price, with all my sports paraphernalia included, at a more convenient time is cheaper than the competing LoCo. On some occasions with just hand luggage the LoCo scrapes in, but it's usually not by much. There are some great fares out there if you have flexibility and you will find them in the most unexpected places. Equally, I have looked at LoCo 'last minutes' (<5 days) on return flights into main EU airports and they are the same price as some 10 hour flights to USA and other destinations by the national carrier.
There's nowt so queer as the world of airline ticketing.