My family has stayed there on two occasions and I highly recommend it. It's our favorite hotel in Orlando. The rooms are well furnished and the service level meets or exceeds the other Ritz Carlton properties I have visited. In my opinion, the rooms and service at the Ritz blows away any of the Disney hotels. We have stayed at the Grand Floridian and the Poly, and I can honestly say that the Ritz is a MUCH nicer hotel. It's not even close.
The one downside of the Ritz is that its located about 10-15 minutes from Disney. I would highly recommend renting a car if you are going to stay at the Ritz. I should also note that the hotel is very close to Sea World--probably less than a mile.
The hotel grounds are very pretty. The hotel sits on a lake. The hotel has all of the amenities you would expect at a higher end hotel--pools, spa, restaurants (great food but very expensive), etc. In addition, you have full access to the facilities at the JW Marriott next door--including their amazing lazy river.
Housekeeping did a great job throughout our stay. They even made certain that they finished our room before my daughter's nap time.