This is almost a whole separate topic. (Ok, well this thread is about lounges...)

But seriously, I earned AA PLT through 2/07 thanks to a RTW in Q1 this year, and I also have CO Gold (midlevel) from last year, through 2/06. The points you bring up have seriously tipped me toward refocusing my ongoing efforts on maintaining status with CO. Without getting into all the differences between the 2 airlines/programs, the fact that the CO Presidents clubs do offer free wireless, free drinks, and perhaps more importantly, free access with my Amex Platinum Card, has really helped tip the scales toward CO.
And it really hurts that I got 78K+ q-points on the RTW such that EXP is within spitting distance (but it would never happen again), but I just can't see AA being a long-term choice for me, due to the lounge issues plus an uncompetitive route structure from NYC vs. CO. I'm sure EXP would be great while it lasted (and the subsequent drop-downs to Plt then Gold...) but at the end of the day if I can't earn more than 25K points in a year, I'd rather be a CO low-level elite. Ugh!