I just went through LAX on Sunday, PVG-LAX-AUS. Our flight was about 15 minutes early, and parked out on the tarmac (or apron, or whatever you call it when there isn't a gate). Surprisingly, I think it was actually faster than dealing with a gate and all the walking. Got on a bus the dropped us off right at immigration. I have Global Entry and was through in a matter of maybe 3 minutes, then back through security in another 2-3 minutes. I'd estimate that it was 30 minutes between getting off of the aircraft and entering the Flagship Lounge.
But that doesn't mean I would book 40 minutes. I had booked about 2 hours, and felt a bit nervous about that.