I did both yesterday. I would say that The Pier F Lounge, much like CX, is a shell of it's former self. While the QF F Lounge is a little scruffy, the menu, wines and service are pretty similar to what they were when it first opened. While it's a personal thing, the decor at The Pier F probably wins however everything else and specifically the service and food has declined so much in the past year that I won't go out of my way to visit it any longer. So better food, wine and service at QF First Sydney. Better decor at The Pier F Hong Kong.