Hi Telezacski - blocked seats don't really inform us of a lot, as it relates to loading & potential upgrades... and the number of blocked seats
you see would likely be different as a NB QP, vs what a PS, PS QP, SG, WP, P1 & CL would see. Blocked seats may be a status shadow, but they are also used for a variety of other reasons operationally, like infant seating areas, groups, load balancing, managing potential aircraft type changes & faulty seats or entertainment.
For upgrade chances, the best
indicator -and that's all it will ever be, as only QF knows for certain about what will happen - is the availability through each fare bucket and class. These numbers tell us more about how busy a flight is through the various fare levels still available for sale, and that gets a little more certain as the time to departure draws nearer, but the big unknown will always be how many others are in line, in the status groups ahead of you (5-6 groups, in your instance).
If you want to share your flight details on the
upgrade probability thread, someone can take a look, and maybe also show you what appears blocked from a higher status level.
Cheers,
Matt.