Spoke to a couple of CM's last week. SSR is scheduled to complete in 4 phases, with the first phase opening about May-July timeframe, 2004.
Phase I will be along the lakefront across from downtown Disney. When you take the Trumbel ferry from OKW you can see the construction that is taking place, quite clearly.
Phase I will be a 'hotel' like structure. In other words it will be like BCV, BWV or VWL villa units with interior hallways, etc. It will however be 100%
DVC and not a 'shared' Disney resort like BCV, BWV, VWL are.
Phase II and III are not clear yet (At least not being public yet) but apparently will be some kind of stand alone units. This could probably be anything like OKW units, or HH or VB units, or something totally different. Speculate as much as you like on this one.
Phase IV might possibly be the Treehouse Villas. Again this does not appear to be firm. One CM said they were told this was correct while another CM said it wasn't firm at all. In any case as most already know the treehouse villas will probably not be torn down as it is an environmentally protected area, and if they are torn down, Disney cannot build anything there in it's place. So whether they will or will not become DVC....well, as always take everything with a grain of salt.
Disclaimer: CM's have been known to give incorrect information in the past. I'm only passing on what I was told. As always, nothing is firm until the official press releases.