If you're not in a hurry in HKG take one of the shuttle buses in from the airport to TST. It's an easy ride, you get a chance to see a little of the territory and the bus is comfortable and cheaper than the train. If you just want to get in and crash, take the train and a cab as moondog suggested.

Definitely take the Star ferry to Hong Kong Island. It will cost you less than US$1 round trip on the upper deck. Also, try to visit the restroom at Felix's restaurant on the top of the Peninsula hotel, at the bottom of Nathan Road, a few blocks from your hotel. I promise it is an experience you will never forget. BTW, don't eat there unless you are on a very large expense account.

I agree with bp888 that the Pan Pacific, located in SunTec city, is a bit out of the way. However, you can walk, through an inside tunnel or outside if you prefer, to the City Hall MRT station that will take you to the heart of the Orchard Road district in 3 stops.