CX or EK
John,
As a relatively new guy to EK I can only give you my first impressions. I managed to get my children into an excellent English school just 5 minutes down the road. Lack of hobbies will certainly not be a factor as there's plenty to do including horseback riding.
Currently there is no airline expanding as rapidly as EK and as you probably already know, it's one of the most profitable. The training is excellent and the pilots come across as a very civilized bunch. Considering the roads previously travelled, there is no place else professionaly that I would rather be right now. Besides there's no SARS or other strange diseases to worry about that seem to crop up from time to time in HK.
Good luck with your choices, but like others who have spoken, I would advise you to apply to both airlines so you can at least keep your options open.
Best regards,
Yardman