I just returned from PEK last week. On checkin I got the coupon that allowed me to choose one of the lounges. I chose the BGS lounge, based on the posts I saw here. I have to say that I didn't find the lounge to be bad at all. Furniture was OK and comfortable. There were the usual selection of drinks (soda, beer, etc). There was a small buffet that wasn't bad. Actually, I've had less food available in NRT or ORD at the RCC then I had in PEK. Overall, an OK lounge.
NOTE: It was my first trip to PEK. I found out that you can not change money back to dollars at the bank opposite gate 12 unless you did your initial conversion from the same bank. Apparently this is common in China. Only the bank that did the initial conversion will convert back. And, they choose the lower rate of the current rate and the rate you converted to Yaun at.