Not saying that the $400 price tag is worth it...but IMHO it is a GREAT hotel for families with kids. The pools they have are AMAZING. Full of fun. Here are the descriptions of the pools from the website.
Zero-depth entry free form pool
Four story interactive water tower
400-gallon dump tank that splashes down unexpectedly and cascades through the slides & flumes
Basketball court with multilevel hoops
Multiple water slides & flumes (7)
Climbing nets
Water jets
Carpet Golf: Free form, nine hole, multitude of sand traps & obstacles
Interactive water-play toys
giant family-size whirlpool spas
Daily scheduled Nickelodeon-themed poolside activities
A second pool features:
Olympic-style lap pool
Water flumes and slides that splash down into the pool
Shaded kids' play space with interactive wet/dry area with pop jets and splash zone for pre-schoolers
Sand play area with slide
giant family size whirlpool spas
On top of those things they have daily activities etc. for kids that are really super cool. When we stayed there we were VERY pleased with the hotel. We do stay at the Ritz sometimes when we travel to other cities...but if you are doing "non Disney" I would cite this as the best "non Disney" hotel Orlando has to offer (as long as you are going with kids). I personally think it would be a big waste without them UNLESS you are a huge Nick fan yourself and want to be there to soak in the "NICKness" yourself. This endorsement doesn't mean you will find yourself catered to like at the Ritz, just that at least for our family, it was great fun and we might tack on an extra few days on one of our next Disney trips in order to enjoy all it has to offer. It is a very awesomely themed hotel that is a lot of fun for families.
HOWEVER, I would not pay $400 a night for it. The rooms are great. The pools are great. The entertainment is great. The activities are great...BUT...if I were going to pay $400 a night it would be concierge level at a Disney deluxe resort. Then again, that is what floats my boat...maybe Nick Hotel is what floats yours
Enjoy your vacation no matter where you chose to stay!! Good luck getting a better price!!