The lounge hasn't moved. There's a lot of construction going on at the moment with a new wing for long-haul flights and I doubt there's going to be anywhere opening up soon. The BA lounge seems to switch between very busy and empty very quickly and I have the impression that the flights to London (whether to LHR, LGW or LCY) all seem to be at the same time in waves, which probably explains the occasional crowding. Probably wasn't helped over the New Year by all the fog delays.
I've used the lounge when travelling IB, though they've occasionally tried to chase me out to the DNATA lounge and if there aren't any BA flights it's a pleasant peaceful place to be.