Our family of 4 spent the first week of May 2012 at the Grand Floridian at Disney and loved it.
While it is no doubt an expensive hotel it was the most convenient location especially if you have two little girls (5 and 2) that get tired quite quickly. The monorail got to Magic Kingdom within 3 or 4 minutes on most occasions. Getting to the other parks was also very easy using the monorail and the complimentary bus service. The longest it took us to get anywhere was 30 to 40 minutes.
The room was not the biggest but adequate for our purposes. It was clean, neat and we did not have to wait for it to cleaned at any point. The only issue we had in the room was the intermittent wi-fi signal. Although it was free I would have paid a nominal fee for a more stable signal.
The service at the resort was very good and we did not have to wait very long for any request.
In short a great hotel for our first Disney experience.