I had one for a number of years before I had any airline status. In the UK, the lounges are mainly independent (ie non-airline run) ones which are not a patch on the BA or Virgin ones but are certainly better than sitting outside. It also saved my sanity once on a low-cost flight out of Luton with 3 friends which was delayed by 3 hours. US readers should know that all booze is obviously free! The best UK lounge is Gatwick North, where you can use the Delta lounge, and Heathrow T4 where you get the KLM Holideck.

Today I still have my PP (comes free with a Plat Amex - this is a cheap way to get it) despite my airline statuses. It comes in useful at places where BA (for eg) has a tiny, rammed lounge but there is an empty PP lounge next door. Or where the PP lounge is nearer the gate than the official lounge. Or where I simply get bored in the official lounge and decide to see what else is available!