Not been in it recently, but I remember it being pretty uninspiring. It also used to get pretty full during the skiing season and would only admit Gold and Silver card holders, no guests and no CE passengers without status. I think that changed a while back.

Unless there are compelling reasons, I would park my luggage (say in left luggage locker at station) and get train into Geneva. Five hours in any lounge is just too long and Geneva is a very nice city.