1. airside transfer is faster and involves less walking. Those may be negative points with 5 hours to kill.
2. CDG baggage loss rate is better than AMS or YYZ, as point of comparison. Taking baggage through customs needlessly and then possibly being unable to check-in at TK for an hour or 2 seems a poor choice.
3. Most of the CDG lounges are spartan, only the AF F lounge is OK but you have no access to that. The Sheraton hotel is in the terminal at CDG (by railway station) and worth spending some time in (nice bar, restaurant and day rooms). Expensive though.