My wife and I are currently staying at the Conrad Bali for part of our honeymoon (Stayed at Conrad HKG and BKK 2 and 3 weeks ago; so those are our frame of reference). We booked a whirlpool suite with lounge access. When we arrived on Aug. 1st, the executive lounge was still not finished yet; they are saying in 3 or 4 days maybe. The checkin lady first tried to tell me that breakfast was not included in my rate. Luckily I had my confirmation papers that showed a whirlpool suite with access to executive lounge benefits on the details. I furthermore stated I was Hilton Honors Gold: So she could take her pick on how she was going to give me breakfast. At that time, I politely asked to speak to the manager. He resolved the situation with a significant discount to the suite and included breakfast. He said we will be invited to the lounge when it opens in 3 days. I will post an update.
The suite is extremely nice. Two huge rooms; 3 patios. One patio has a very large waterfall jacuzzi and two lounge chairs with umbrella. One major problem with the jacuzzi is the hot water has to be turned on and off manually by the engineering staff (Big pain to have to call them everytime you want to get in).
Other PROS and CONS:

PROS: Extremely Big and Nice pool; Lots of activities if desired; Nice Landscaping, just needs to grow; Small Grocery market one block away to buy beer and snacks. Staff seem eager to help and please, but you can tell they are still learning. Breakfast Buffet in restaurant is good, but lots of kids.
CONS: KIDS everywhere; Screaming Kids everywhere; Beach is BAD; Lounge Not Open; Need to Take TAXI if you want to go anywhere. No restraunts within walking distance, except other hotels. FITNESS Center and SPA still in Temp locations.

I will provide update about lounge at the end of stay. If any one has questions, let me know. I am also going to later provide quick updates on Conrad HKG, Conrad BKK, Sheraton Hanoi, and Sheraton Ho Chi Minh.