We decided to book an excursion with Morocco Attractive Tours at the end of May. The excursion was to the 3 valleys and lake (but it was end of May so there was no Lake) so we only did the 3 valleys. The guide Chakib is a very friendly man and he is pretty conversational.
Moroccan landscape is beautiful so if you like nature and you appreciate sightseeing this might be for you. There is one stop in one Argan shop so I guess this was the delight of my girlfriend.
I think the tour is highly enjoyable, although the berber lunch felt a bit fake. Say... you are in the middle of Morocco and only 2 umbrellas surrounded by adobe houses but there we had a gorgeous lunch and it is pretty refreshing, although the sun might be an issue if its intense.
The waterfalls are nice to go, but be careful, its a bit slippery. Chakib was there to assist us so I would recommend that you take some trekking shoes if you decide to go to the waterfalls. In addition to the excursion expenses, the berber lunch costs 13 EUR and the waterfalls 7 EUR. You would not do bad to ask about the cost of these activities, just in case my info is outdated.
I think this a recommended tour if you want to be free of traffic and the crowded busy Medina. Also, you will enjoy more this excursion if you like outdoors and you enjoy mountain air.