As above on *Golds having access to Air China business class lounge in E. As to visa-free entry, I'm not so sure you will be successful due to your timing on 8/12. Normally you would pass through immigration and customs, and with US (or EU/AUS-NZ/Jpn + some others) passport, you could get at Beijing airport, limited time visa-free entry, and this is stated in official regulations. However, due to heightened Olympic security measures in place right now across the city, be prepared to get denied entry and have to remain inside the terminal in transit only. Post a followup on success or not, as it would be useful to have real-time anecdotal evidence of whether the security policy has defacto suspended visa-free entry....and right now we don't have any evidence one way or another.