I am almost certain that they would not give you the discounted price, since that defeats the purpose of it. Since most people who get the membership plan on flying a lot, this is the situation for a lot of people.
As for the food offerings, don't expect a lot. It is an ok place to relax, but I would first eat outside of the lounge. You can expect nothing more than some chesse and crackers, vegetables, and toblerones at absolute best.