I would propose to you that being Class A is not some kind of magic potion. Being the right kind of station for the market where you are located is the key.
Being a Class A in a metro market trying to duke it out with the higher power operations can be a real bummer.
Being a Class A in a small market that is overwhelmed with big-box chain retailers that has crippled or destroyed your locally owned retailers can make your market a radio death-zone.
If you own a Class C with higher power and you have already invested is land, building, studio/office facilities appropriate for a big-budget expectation, you may find you have purchased a "non-refundable ticket".
The money making Class A will often have modest, low-overhead facilities in a market place populated by businesses that spend advertising controlled at the local level.
Giving up Class A status by applying for a power increase doesn't change much, UNLESS, ownership/management suddenly starts thinking they are 'one of the big boys' and wrapping themselves with the attitudes and expenses of the Big Boy Club.