"I can't see how the A380 is proving to be unsuccessful? The program has accumulated 200 orders"
Granted, they have +200 orders, but eight airlines have deferred deliveries accounting for over 50% of that order book. Airbus itself revised its break-even figures to almost 500 aircraft, and experts have continued to question even that estimate due to Airbus' habit of moving the a380 at ridiculously discounted costs to avoid white-tails. Further, of those 200 orders it is very likely (possible if one prefers to be optimistic) that a sizeable number will be cancelled before delivery. Airbus has revised its production rates down to 18/year, a figure much more likely to come out closer to 10-12/year based on current data. Compare that to Airbus' hard-sell pitch of almost 400 a380's produced by 2015 and the jet is in no way growing into the imaginary VLA market niche. The likelihood of even 200 being built is slim.
"a new more efficient version of the A380 is going to be available from 2012 with BA being the first to receive it"
BA is taking delivery of ONE a380 in 2012 as a token for the Olympics. The remainder of their order of six will be stretched out through 2016, assuming they're not cancelled outright.
"The A380 has proven to be more economical than either Airbus or the Airlines operating it had hoped for"
....? This statement has not proven true for even a single carrier operating the a380:
Qantas has had such low yields that it's considering trimming its biz seating on the a380 to try to get more bodies on the flights, and its former CEO has stated openly that the airline should have added a 777 fleet.
Singapore is bleeding money via its a380's and is facing cash issues down the road similar to BA's current situation.
Thai can't justify its a380's based on not seeing a way to fill them past the 65% break-even loading touted by Airbus (which is utterly fanciful).
BA can't work out how it can get even close to a revenue cargo load factor while also seating enough passengers as compared to its 744 fleet (a glaring issue for Qantas as well). Revenue cargo on passenger flights is a major issue not much discussed, and the a380 doesn't come close to measuring up. BA will likely replace its 744's with 773's and 787's/a350's.
Finally, Cathay continues to stand by its belief that the a380 isn't the answer, opting for additional 777's and eyeing the a350/787 lines tied to higher frequency.
The market has repeatedly demonstrated that frequency trumps VLA's, yet Airbus dove head-first into an aircraft program that carries more superlative descriptions than value regardless of current market conditions. Is the 748i the answer? Probably not a silver bullet, but it's figures are much more closely suited to current and near-future needs of the large carriers than those of the a380.