At one time CX had a late departure out of ORD. I took it once and loved it, for exactly the reason the OP put in the original post, " lie flat and go to sleep, arrive in Hong Kong early in the morning refreshed and have the whole day ahead of us."

When you arrive early, be aware that you might not be able to get into your hotel early.

I just used the arrival lounge at HKIA. Shower, shave, eat a little, and was good to go! I just took my bag to the hotel and had them check it while I went about my business.

As others have said, when you are on the plane for that many hours... and have a lie flat bed, there really is no "red-eye". Or, if you are in economy, you might consider them ALL red-eye flights, regardless of the departure time! :-)