My mom has sentimental memories of Cap'n Jacks so we end up eating there once per trip regardless. She loves the margaritas and clam chowder. I think it's decent, not the greatest place but not as bad as some on these boards make it out to be (at least none of my experiences there have been).
We did the walk-up last month and were told it would be about an hour wait. We left and went to the margarita bar and had a drink or two (they are yummy) then went back to the restaurant and were told it would be another 20 minutes. Then we walked around shops for about 10, headed back and our table was ready. Right on the water, very nice view. We had a nice meal (more margaritas).
Cap'n Jacks does have some really nice views, and I don't find the wait to be intolerable since you can shop a little then come back. There are other great places to eat at DTD, though, like those mentioned above. We really LOVED the Earl of Sandwich (counter service) and Raglan Road (the bread pudding was to DIE for - that next to 'Ohanas bread pudding and I wouldn't need to eat again for a year!).
So many choices, too bad humans don't go into hibernation so they had an excuse to bulk up with food beforehand!!