Stayed there using points over the Columbus Day weekend in 2003, and I have some photos.
Positives: point costs were good (that period is defined as off-season). We were lucky to have great weather there during the peak foliage season, the resort wasn't full and most of the local Lake George attractions were still open (the local Six Flags "Great Escape" theme Park wasn't, it closes after Labor Day). Our one bedroom villa (a "Lakeside Lodge Suite") was cozy, not quite as big as a
DVC one, but did have a fireplace:
The whole property is beautiful, placed in an amazing island setting with fantastic views of Lake George and the Adirondacks:
There is swimming, boating and various watersports off a large dock complex in the lake (with a magnificent view of the mountains) during the summer. During cooler seasons, you can use the indoor pool, one of the biggest and nicest I have seen at any hotel. There is also a very nice spa my wife disappeared into for the better part of the trip!!
Negatives: the biggest "villas" on the property are one bedrooms that at best sleep four comfortably, so if you are used to 2BRs+ at Disney or have a larger party, you're going to be forced into booking multiple rooms/villas. The kitchen is small by DVC standards, On-site dining is good but quite pricey:
If you want to seek out off property restaurant options, they are limited in the immediate area of Bolton Landing (where the Sagamore is located), so you generally end up having to drive 20 minutes or so south to the Village of Lake George. Also, Lake George is not readily accessible by commerical flights (closest major airport is Albany, which is over 50 miles away) so getting there does involve driving your own car or renting.