You are right, I don't know what the new terminal will mean. I am sure it will be different, but better??

Right now, you fill out a form and go through customs and then check in. Then you fill out a second form and go through immigration and then security. The whole process can take a bit of time, so I leave myself a good hour. I also try to get the customs form ahead of the airport (I have a bunch in my desk). The desks where they are kept is in the middle of a major zoo and not being a pushing type, I always feel uncomfortable shoving my way to the desk. The line into the customs area can be quite crowded and does require some elbows to get through!

I've only flown C out of PEK but the AC lounge is not real good. Whenever I have gone there, it is very crowded and dark. The "independent" lounge is much nicer. I am not sure about the ability to get in either with a *Gold card.

Good luck!