I've stayed there in '05, and the kids loved it, especially the bunk beds and the pools.
If you are doing character meal at disney - skip the Nick one! kids eat free not as good a deal as it seems since it is so expensive - find regular resteraunt - not on theme park property - much better deal.
Lots of fun stuff to do. We've stayed at one of the Value Disney hotels on another stay - stuff around the hotel was fun (not as cool as the nick pools tho) but the Nick rooms win hands down for decor.