I gave a Chase President's Club pass to a friend who was able to use it at an RCC. Initially the check-in person said she wasn't sure if they were allowed to accept them. When my friend showed her a print out from the merger FAQ saying the passes were interchangeable, she let him right in.

http://www.continental.com/web/en-US.../news/faq.aspx

Will I be able to use airport lounge day passes or one-time guest passes to access either airline's lounges?

Yes. Day passes and one-time passes from either airline will now be accepted at both Presidents Club and Red Carpet Club lounges.