For anyone that is interested, I flew out of Cairo yesterday and Emirates is now flying from Terminal 2 (as of about 2 days ago). A huge improvement from the old terminal, but it still isn't a great experience. Over an hour from arrival to gate, including long queues to get to check in then another security check after immigration.
I did not check out the new lounge it required another security check and bag x-ray. At that point it was close enough to boarding time that I wouldn't have had much time there anyway and was done taking my shoes off.
McD's did not move, but they had a few decent looking restaurants- a Burger King, a Pizza place, a sandwich/salad place and a coffee shop in the central area.