We rented a home 2 years ago for XMAS in Oak Island Cove. The location is great! You're sort of in between Windsor Palms, Indian Creek, and Emerald Island. It's a great location for proximity to Disney parks.
The only thing that I know has changed in the last few years is that there's now a freeway being constructed that runs right behind Oak Island Cove, so some of the homes will practically have a freeway in their front yard. If you're concerned about this, it looks like Google Earth (software you can download for free) shows clearly where the new freeway is (it shows a wide area of dirt). Just enter the address of the home to see if it's close to the freeway.