Definitely bid online and hope it gets accepted. Unless you get on the new A330-NEO TP's Y product is not great. The one upside is that seating is 2x4x2 so if you get the side seats you only have one person next to you which makes getting in and out of seating easier, particularly if you have limited mobility. The entertainment system is older too so it'd be wise to pack a good book, magazine and if possible load some content on a tablet or your phone to keep yourself amused. The seats are older and were built with more padding but that has been compressed over time. I still found it more comfortable than LH Y on the 747-8i. Service is fine. Nothing amazing but also nothing bad. for a longer flight I'd suggest having a snack or two in your bag as service is at a slower pace than other airlines.
TP uses the Club America Lounge, don't get excited about that as it's not anything fancy and can get crowded. It is a Priority Pass lounge so if you have a membership it'd be "free". If you're traveling with someone & paying for entry take the money and go to a restaurant or bar in the airport instead or go to the Centurion Lounge and allow plenty of time to get to the gate. Not sure if the assist programs help get people from lounges to gates but it's worth inquiring about.