I stayed at the Caribe Royale for a convention in 2007. Very nice hotel, pool was awesome, but getting to the parks can be a bit of a chore. Personally, I hate rental cars, so I rely on Disney Transportation. The shuttles run by the Caribe were never that convenient for me, but it was OK overall.
I would say okw but CR was my wife and I's first vacation together. We were teenagers and thought that having a seperate living room was cool. Plus I think it was like $600 for flights and room. Had to have been 10+ years ago.