We paid a little under $200 per night last May (there was a really good discount). We had been booked at CSR but had to change our dates and only Royal Rooms at POR were availble, and since it was only a little bit more, we went ahead with it.
We thought it was worth the price for that particular trip since the money was in the budget. Also, our DD really loved the princess theme and the fireworks in the headboards of the bed. POR is also our favorite resort, which makes it worth the money, too. We love the landscaping, the pool, and the food court.
I will say that the Royal Guest Rooms are pretty far away. Ours was in the furthest mansion building. On our previous stays, we had been in the Alligator Bayou section and that was much closer to the pool and food court. We didn't mind the walk - it was pretty and peaceful along the river and over the bridge - but some people might. The rooms are also not any bigger than other POR rooms and don't feature any special amenities other than the decor. So if you're not excited about the walk, and you think the princess decor alone is maybe not worth the extra money, you might be happier in a regular room at POR. Or, use the money to stay in a preferred location instead.