Yes, there was some road noise but not overly. Honestly, it didn't effect me at all. There was mention of this on the TUG boards, that if you request a new unit you'll hear the highway noise. It really wasn't noticable to me. The new units were very nice and in my opinion, worth it.
I have to say, I loved this place. I'd grab my coffee and sit on one of those swinging benches by the lake in the morning. Heaven. The pool was great. How old are your kids? As I said, even my 12 year old loved it. The unit did not feel small to me. It was very open, had a flat screen TV, bright Caribbean colors. We were very comfortable. We didn't do the mini golf and we were on the go quite a bit, so when we were at the resort it was mostly swimming.
My experience at Star Island would be comparable to a Marriott resort. Having said that, the reviews on this place vary wildly. We had a 3 bedroom lockout which was huge. Very clean, comfortable, nice- like a Marriott. There were beautiful tennis courts and the pool was basic but nice. My DH did not like this place. He disliked that we were up on the 5th floor and said it felt more high-risey. He felt there were not many trees and there was a lot of concrete. Like you, we use to go every Feb (we go in March now) and had always been lucky with the weather. This particular trip was cold (2 years ago). I think that in itself put a damper on the whole thing. Also, there was no little store that I can remember. The service at the pool bar was always grumpy and there were not many families there which made it kind of blah. We like chatting with different people in the hot tubs, around the resort etc.
HTH
Jenn