Boundary Ranch is set in a very lovely location with fantastic mountain vistas, consistent with the whole area. It appears to be set up to mainly handle groups, but we went as a family, and it was fun.
Any activity involving horses is not going to be inexpensive, but with that in mind, this was reasonably priced. We were there in their shoulder season, after the winter and before all the snow had disappeared, so some of the trails were inaccessible. The kids loved the horse riding experience.
My wife attended a Western theme dinner theatre event for her conference group, which was quite fun and well-done, if a little hokey. I think those things are just meant to be fun and get people mingling.
If you take your time, you can milk a few hours worth of activity out of it with just a one hour trail ride, but there are lots of bigger options like much longer rides, which I think would be great if you have the time and money.
It is a short drive from the Delta Hotel at Kanaaskis Village (which is not quite a village but rather a resort setting with a main hotel).
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