So it was an A340-600 both ways. My expectations beforehand were low... but significantly exceeded!
Qantas business lounge at MEL. T1 lounge at PVG pretty average. Ended up going to the Diner's lounge too, which was better in most respects but not as much food (choice of several hot meals in the MU lounge, just sandwiches in the Diners). Seats not really comfortable in either.
Plane was clean, service very good (pleasant, attentive, good english, lots of hot towels handed out), food good (steak a little rare for my taste, but tender & tasty). Steel cutlery except for the fork which was plastic (& pathetically useless) on the way out. On the return leg it was all steel. Personal screen with choice of about 60 western movies. No really recent releases but plenty of fairly recent and saw a couple of things I hadn't seen before. Amenity kits handed out along with noise cancelling headphones and slippers. Nice blankets. Seats not horizontal but decent recline and comfortable - had a good night's sleep on the return leg. Declined dinner in order to get head down but they still offered a fruit plate & ice cream - and drinks. But no champers either way - didn't have it apparently, though it was on the menu.
Outwards leg on time but return ~1.5hrs late.
No photos I'm afraid. Flight out approx 50% full in Business, if that. Return (Friday night) almost full.
Overall certainly not a bad experience at all - quite good in fact. Given the relative cost, I'd highly recommend it, and will certainly do the same next time.