I've done it annually the last few years and had a great experience.
By next year all their fleet will be upgraded to the new seat, which by all means should be well and truly stellar compared to their current one. (I'm one of the minority who actually don't mind what they have, but more space/privacy/direct aisle access is definitely going to be great)
In terms of service and 'soft product' in my experience it's been great. The crew are friendly and usually very attentive. The food has been pretty decent (It's still airplane food, but it's definitely not sub-par in my experience).
The bar is a great feature (and should be better when it becomes a proper staffed-service affair). I have enjoyed plenty a quiet drink/nightcap while either reading after lunch trying to convince my body to sleep, or talking to other pax (who've ranged from DYKWIAs to nice folk I've had good conversation with) while everyone wears their VA PJs.
(Speaking of which the VA PJs are comfy I've found. The amenity kit is so-so; but it exists and has the basics you need).
I BYO Bose headphones so can't comment on the type provided, they look to be about a 6 or 7/10 vs the Bose which I'd call about a 9 in terms of noise blackout.
The Air NZ lounge in BNE (has just? - not sure) been refurbed (or is about to be) so it should be significantly better than it used to be. It was poor. The Star Alliance lounge in LA is excellent and in my opinion (the J lounges anyway) probably has the edge on the QF J lounge (though the F lounges are a different story).
I love the balcony area of the *A lounge at LAX - though in January it may be a tad chilly - but at least it's probably gonna be quiet!
I wouldn't hesitate to fly them if the price, timing, or status crediting was right
