I'm only Platinum myself. I didn't even realize there was a lounge for Diamonds. But there is a lounge area (walking in the hotel make a right and pass the coffee/dessert shop) tv's, couches, pool table, table tennis if I recall, quick self serve food and drinks (alcohol included).

Also I didn't notice any difference in service from guest to guest since there are no wrist bands anymore from what I was told at check-in.