what happens when first class award ticket flight is cancelled

Supposed to fly an award flight DCA-EWR-LAS first thing tomorrow in F from EWR to LAS. I have a feeling it's going to cancel because the inbound flight can't get out of EWR tonight.

If I can't make my EWR-LAS leg, what happens to my confirmed F seat?
Do I go on standby list for later flight?
Does higher elite (I'm Silver btw) on coach fare get higher priority on the standby upgrade list?
If I get to the airport early enough will they reroute me in F through IAH or ORD?
If I'm forced to fly in coach, what kind of compensation should I ask for/expect?

I'd call in and ask but I feel I'll probably be on hold a couple hours at this point.

Thanks!