I was in Malev's Millennium Lounge (Non-Schengen area) last October and it's fairly basic, but comfortable enough for a short visit. It has all the hallmarks of a third party lounge.

If your layover is 3hrs then I'd be packing a book to read. The bar was standard fare, with a limited selection of crisps/nuts etc as snacks. I recall it had a view of the apron, but Ferihegy is hardly an plane spotter's paradise.