Interesting thread. Back in the day, I have seen a little of both, although my overall experience is much closer to Banty's, where everyone had a turn in the barrel regardless of rank or experience. However...
Our F-4 squadron and our sister F-4 squadron operated on two different philosophies. While our Skipper (and me as his wingman) and XO naturally got all the heavy "downtown" missions, everyone else in our squadron still had their equal turns in the big Alpha Strikes. But our sister squadron had only a few – mostly all 2nd tour guys who they would allow to go "downtown." It caused a lot of bitterness amongst their JOs. (BTW, our success rates, and loss rates were equal, but morale differed greatly. Of course they got some MiGs and we didn't... because of perfect timing, rather than talent.)
I have also seen when Cold War Soviet Bears were enroute, a CO or XO would sometimes come out and relieve the manned and active "alert 5". (picture jaws tightening)
Then I have seen, not by intention, a group of pilots become the "night team." Only because of minimal flying in blue water ops, and the difficulty of keeping everyone night qualified. (I hardly flew more than a few hours in daylight for a couple months.
)
Intelligent scheduling is one thing to be debated, but relieving a crew on the flight-deck after man-up (or whatever they call it these days) really sucks in my book.
PS: I also agree that no one should have been flying that night... unless there was an exigent mission to prosecute. And although I have seen flight ops on (smaller) decks pitching even worse, it was during the day and never at night from my experience, even during wartime. But I also know some who no longer live because a CAG in another airwing pressed it in peacetime heavy wx long ago, just to prove he could.... and at great cost. :icon_rage
I'll take it from him 
