We just had a wonderful stay at the Sofitel Moorea. We originally intended to stay 4 days and then go to Bora Bora but it was so beautiful and relaxing we spent the whole time in Moorea. We stayed in an overwater bungalow which was most definitely worth the extra cost. The bungalow allowed you to swim and snorkel straight off the balcony, also the pylons of the bungalows provide an ecosystem for the sea life meaning that beautiful, amazingly coloured fish hung around the pylons and were clearly visible from the balcony.
We tried both restaurants and were happy with the food in both. The signature restaurant is probably better value as the dishes are more interesting and the service is better for only a slightly higher price.
The only complaint we had was that the general restaurant was seriously understaffed which led to poor service at busy times.