I don't have a review of the Lake View at the Dolphin but we have stayed in the Swan Studio rooms a few times.
The Swan Studios are just great. The easiest way to explain the setup is to picture walking into a regular hotel room. When you walk in you pass the bathroom area on one side and usually on the same side are the beds. The other side of the room has a wall straight through (the tv/dresser, etc is on this side).
In a Swan Studio, you walk in and instead of having that straight wall, there's a dining area (another room) there with windows and a buffet that has the frig in it. The room is kinda shaped like an "L" laying on it's side.
Hope that helps. Most of the studio rooms have great views. The views are almost panaromic since its at the end of the hallway there is a view from 2 sides plus the dining area has windows. We've had a view of the Dolphin/courtyard/lake area and an AMAZING view of the BW/EPCOT/DOLPHIN/LAKE area (best view of any hotel we've ever stayed at on WDW property). That was amazing because one night off to the distance when I looked out of the dining area window, I saw fireworks over a lit up bldg along the horizon. I realized they were coming from MK and the bldg lit up was the CR! That was cool! We were also able to watch Illuminations as well, we were pretty high up in the main bldg.
I highly recommend the studios because the dining area gives you a lot more space and is great for eating in room meals, etc.
