Here's my amended post. Hope this answers your question. And yes, they call the exec lounge The Panorama.
Off again to Metro Park C'way Bay next week. Tried many other HK hotels before, but Metro Park's does the job for me. I did exactly what gre said when he started this thread: downgrade the hotel and upgrade to the club level.

+Convenient location, HK Tram + Tin Hau MTR station round the corner, just one stop to C'way Bay (vacant taxi's are hard to find during the morning rush hour)
+Good sized Parlour Room (go for the Parlour Rooms rather than the Suites)
+Wide open view on city, park and harbour (great from high floor parlour rooms, stunning from rooftop pool) (view from L'Hôtel mentioned in this thread and just round the corner, is obstructed by nearby buildings),
+Lots of daylight in parlour rooms (twice the amount of glass of the standard rooms).
+Quiet rooms (not many rooms per floor. I may have been lucky but I have hardly ever had any noise from the corridor, yet spend here abt 20 nights thoughout the year)
+Free wired broadband (and wireless in the club lounge)
+Breakfast: decent buffet in the restaurant (included).
+Club Floor Lounge: Somewhat limited breakfast choice yet private atmosphere (and if you really want your bacon&eggs, they'll have them brought up from the restaurant); Evening cocktails; Reading materials; Computer/printer; Dedicated desk for check-in/out.
+Pleasant club floor staff, good service
+in short, good price/quality ratio for club floor rooms (higher price and often fully booked during major trade show periods)

-Hotel food so so
-Noisy karaoke in the bar.
-just 3 elevators. Not enough on rush hour when hotel is fully booked.
-Limited restaurant options nearby. But Causeway Bay and beyond has plenty and is a pleasant 10 minutes walk through Victoria Park if you decide to walk.