We go about twice a year for business (DH' company has one of three home offices in Nassau). I thought the resort was amazing on my first trip, but have been less impressed subsequently. The food is very very expensive and I would rate it ok, but not exceptional. The rooms are generally not much nicer than your average Hilton or Marriott. The public areas of the resort are stunning and it is a sight to see on your first trip, but it is not somewhere I would go on my own vacation dollar. Of course, I am not much of a beach person because I am so white I'm almost see through- and I get tired of the casino after an hour or two. If you love the beach and gambling, you'd probably be more impressed.
If you do stay there and want a true splurge night out, try dinner at the Ocean Club. THAT was an amazing night and a true five star meal.