We've stayed at the CBR twice and saw the Pirate Cruises both times. The kids were so cute. They had on their bandanas and eye patches. We rented the small boats and every time we would pass the pirate cruise pontoon boat, the kids would raise their fists at us and yell ARRGHHH! They stopped the boat and we saw the kids on the beach looking for treasure.
If you think you're child(ren) might be a bit shy about going on the cruise, I think the CBR cruise would be a good one to choose. The CBR lake is not very large and, like a previous poster said, you can pretty much see the cruise boat the whole time.
And, if you aren't staying at the CBR but want to explore, there are things for the parents to do while the kids are on the cruise. The food court has some nice foods to choose from. The Banana Cabana is the pool bar. The store has a nice selection of merchandise to choose from. Don't miss checking out the coconut postcards. They make a unique souvenier. The new main pool is being constructed and you could take pictures of the construction to send back to us! Ha! The promenade walks around the entire resort and you could check out the resort and all the pretty landscaping. The island in the middle of the lake has picnic tables, hammocks and benches and is a nice place to relax.