VA or BA?

Meals, wine, beer, drinks, snacks, wifi etc etc in the lounge are free whichever it is.

Meals in BA First tend to be something comparable to, say, an average fancy-level restaurant - they do their best, but obviously have limited preparation/cooking facilities... Plus everything tends to taste blander in the air.

Everything in the lounges are complimentary. Munich has a shared business/first lounge with free drinks, snacks, internet etc.

Munich to US will be via Heathrow (presumably) where you'll have access to the Concorde room. Booking a longish transfer period (3-4 hours) will give you time to have a free massage/beauty treatment. Concorde Room and BA First again offer I'd say nice canteen food, fine wines and spirits and plenty of extras. Food will be better on the plane. I personally stick to the BA First lounge as the food and wine seem to be much the same and I prefer to be able to just go and grab it myself rather than having to be forced to ask the staff there. If you have enough time then visit both!

Booking a longish transfer period (3-4 hours) will give you time to have a free massage/beauty treatment.

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These (along with the cabanas) can be booked ahead of time by calling YouFirst. This gives you a leg up on the BA Golds and Club World passengers who can only get treatments on the day.

The caterers for the lounges at Terminal 5 are due to change imminently, with any luck that should bring the standard up. I find that the standard of food in the Concorde Room can be quite variable, some things are very nice whilst others are not too hot. I think given the fares F can be the standard of food should be a lot higher in Concorde Dining.