The significant benefit of having "status" with the
oneworld alliance is that your status is recognised across ALL the member airlines. Yep, you can access the First class lounges.
You will experience the best lounge in the world in Hong Kong - Cathay's Wing and Pier lounges set the benchmark. Take a look at their web site to get a taste of what's in store.
http://www.cathaypacific.com/intl/ai...es/0,,,00.html
If you're on hoidays, it will be worthwhile going on an empty stomach and a few hours early!
Even CX's economy class has video on demand - you watch what you want, when you want while being able to rewind if you miss something (or fall asleep), pause for a pee break etc.
In Sydney, the CX food and beverage tends to be better than QF - and you'll get a boarding call...