We spent 3 nights at this property, in Dec-2011, during an advent trip we took to Wolfgangsee. The B&B is located in Ried, in a very beautiful setting, but you need a car to get to St. Wolfgang. We had one, so no issue there.
We were, however, very disappointed with the service. The owner gave us an icy 'welcome' upon our arrival - coud not wait to get over with our check-in. While the rooms were nice (and seemed recently renovated), the cleaning was at best superficial (which is pretty rare in Austria). The bed sheets were very tired. To top it all, the heating did not work (we had the radiators set to full power, but to no use). Breakfast could have been much better.
All in all, I would not recommend this place. We have stayed in better B&Bs in St. Wolfgang in the past, and it is a pity to go for such a place while visiting the charming area of lake Wolfgang.