Harrier Dude
Living the dream
Customer loyalty in the airline industry has more to do with pricing than anything else these days. Service is nonexistent among the US carriers. Perhaps SWA's "loyal customers" come from it being one of the cheapest, or best value if you will, airlines to fly one from Point A to Point B.
But to add to what you've said--I've heard nothing but good things about SWA.
I think that it might actually help SWA that they've never given anything but peanuts and beverages. They concentrate on the kind of customer service that doesn't really cost much (attitude, availability, etc) instead of the kind that does (meals, 1st class accomodations, etc).
That way, when the other stuff gets eliminated or cheapened, SWA still looks good because they haven't "cut service". Nobody seems to care/notice that they never offered it to begin with.