I am a Captain for Continental, and have a family member who had a long career with Cathay.
I also have friends working at Cathay now.
After 20 years here at CAL I can say uneqivocally, go for CX.
CAL will never come close to matching their compensation, benefits and opportunities.
Every airline has it's share of hassles and hoops you have to jump through. If they make it worthwhile and I think CX does, just put your head down, be a professional and make the most of it.
Cal still has many problems and huge deficiencies with with their pilot contract not being addressed by a divided union membership.
Cal managements attitude wth contract noncompliance is 'sue us if you don't like it'
Things will only worsen in the next downturn, whereas Cathay seems to weather economic storms very well.
Good luck.