I've posted about my Business experiences in another thread as well, but just flew it again from LAX to AKL on the weekend.

Quick summary: I don't think it's worth the retail price, and wouldn't pay cash or full APD for it. It's fine if you are using RU's or OneUp - but definitely bid the minimum.

Seat select even 24 hours out was weird, one side of the cabin was completely blocked. After boarding the FAs had setup that side of the cabin with water and menus, but not the other side that everyone was jammed into.
Prompted some arguments between the FAs.

Drink service was pretty hopeless to be honest, no pro-active top ups, and took a long time to clear meal trays and rubbish.
Got missed entirely from the first half of the breakfast service and had to wander into the galley to get that sorted.
I ended up with a cup of coffee still knocking around when we landed.
Food was average, I guess your mileage may vary but I really don't rate the food. It's just "ok".
Service in general I would classify as poor, seemed rushed, and at one stage two of the FAs were arguing in the galley about something quite loudly.
One passenger got told they hadn't requested a special meal, and something like "well it's a late flight so it's only a light meal service anyway"
Cabin temperature was freezing cold for the first few hours (everyone had blankets on) and then was 'adjusted' to be boiling hot.

This was on the 777-300 and my first time flying in the 'back-half' of the business class section (where you turn right when boarding).
I would definitely recommend seat selecting into the front of the plane if at all possible, having everyone board past you was pretty annoying, and it seemed like we were in '2nd class business class' in terms of service.

If I had paid full price in cash I would have been very disappointed, there were some first time NZ fliers next to me who swore they were back to Qantas for their next trip.