We did an exchange for the Playa Linda about 3 years ago and we were pretty happy with the results. As memorable as any
DVC vacation (~10, all except VWL) we have done. This one was without the kids. Nice resort on the beach in the middle of several beachfront resorts. Decent amenities, pool, pool bar, small restaraunt, spa/massage services, walk out onto the beach area etc, not overly crowded. Walking distance to several restaraunts, casino,other resorts... At the time we got a studio which I don't think DVC offers anymore. The actual food options on the resort may have been limited (1 restaruant, room service ), but with all of the options within walking distance we never noticed. For the older kids there are watersports on the beach, boat cruises etc.., casino at night. Not too sure about nightclubs as we did not go looking for them.
The actual exchange process through Disney did not go smoothly at all, but I think ours was the exception not the norm. We had put in a search for several Carribean resorts about 1+ years out and after several foulups, miscommunications etc. this came through at about 2 months.
If you have any more questions I can try to answer them.
P.S.
The natural bridge is pretty easy to find, the natural pool pretty hard too find. We only got there through persitance and luck.