We stayed at WL/concierge last week. It's our third trip to the resort but first at the concierge level. The 7th floor is all concierge and you'll need to use your resort key on the elevator to gain access to the floor. If you take the main elevators, the concierge CM's are right there. Just down the hall are the offerings. There is no actual "lounge" but tables are alongside the railings overlooking the massive lobby. Quite a few!
In the morning, there was cereal, danish, small croissants, muffins, coffee, tea, oj, milk, chocolate milk (you need to ask CM to get for you), and bagels. I think there was also oatmeal but don't quote me. It serves from 7-10:00 daily. (Note: There are cardboard trays under the table and plastic cups if you want to carry something to your room, etc.)
At 12:00-3:00 (?), there was an asst. of cookies, pop, iced tea, lemonade, and water (not bottled water--but a large bottle to pour into individual glasses). This was a disappointment for us. We liked the small bottled water. We'd grab one on the way to the pool or parks. There was also gummy worms and asst. nuts.
Between 5:00-7:00 - a very nice asst. of cheeses and crackers, a soup (good--but it was always too hot outside to really want too much soup), a veggie plate with dip, crustless PB&J sandwiches. There was also a small asst. of wines available as well as pop, water, etc. There is generally one hot dish a night as well. During our trip there was stew, pasta and spring rolls.
8:00-10:00 - desserts -- brownies, cookies, cobbler, etc. and after dinner cordials.
If you want something that wasn't out, just ask the CM. Usually they could bring it out for you. Honestly, this was one of the things I did not like at WL. We've stayed at Poly/Conc. twice and almost everything (exc. choc milk) was out. Sometimes I couldn't find a CM at WL or they were busy with other guests and I just gave up and walked away after waiting for a few minutes. I found everything to be great but the offerings were minimal in comparison to WL especially the desserts and night. It's possible the concierge level wasn't that busy when I was there and that's why--I'm just not sure.
Everyone was very friendly and willing to help out. Concierge CM's can also make all your PS reservations for you if you like. I've used concierge (when I was at Poly) to have a Pal Mickey waiting on the bed at check in for the kids, etc. They will purchase items and charge them to your credit card upon your request. I always liked having something small for the kids at check in. As well, I've shipped my own goodies/gifts from home to concierge and each day they placed an item in the room for us after we left for the park.
Overall, concierge is great but it depends on your specific situation. If you plan to spend all your time at the parks, IMO it's not worth the extra dollars. I certainly would recommend everyone try it just once. It's nice to feel a little pampered once in a while.