From Glo's FAQ
Lake View rooms are mostly between the "fingers" of the building, with view of Crescent lake area, but a limited view due to the building. The Resort view rooms are more of a "wide open" view, with the possibility of view of the white sandy beach area, pools, or even Epcot. Standard rooms we describe as "non designated view", and most are on the wooded side or parking lot areas. The Swan "standard views" tend to have a bit better view (MGM ,TOT)than the Dolphin due to location. Front of either hotel is "Standard" views. Hope this helps people a little more!
Balcony rooms tend to be on the fingers or wings of each resort and in rooms facing the other resort. Balconies have two chairs and a small table. Balcony rooms 3rd floor and below tend to have balcony rooms right next to each other. Rooms over the 3rd floor alternate room with a balcony and room w/o.