Agree it is a much better lounge but disagree on the decent champagne part!For me, it would have to be a substantial improvement and at least match the Emirates lounge. I used Emirates in November after sitting jammed into the F cupboard waiting till 2.15pm.
What a revelation - massive size, huge food offerings (I tried nearly all of them in the interest of research) power points close to seats, and decent champagne.
This is where QF fails in comparison to other carriers in my experience.