If you are happy with the fare then yes I would do it to save £60 but just remember there is always a chance the lowest fare might fall to below Miles and Money fare. This happened to us going to LAX, paid about £375 + 2,000miles few weeks later a sale on lowest fare dropped to just under £350 and I could have claimed about 10,000 miles pp.
You can never win buying flights.
sorry another question if I had 8000 miles enough for the 4 of us , do we need to have seperate flying club accounts with 2000 in each one to get the discount or is it ok to use the 8000 of the total cost?
sorry if that sounds daft.
You can buy the 4 flights on your account, I have bought flights on my account for all of us plus DMIL when she went with us and last Easter DS friend when he came.