We stayed at the Dolphin in Dec 2002 for 2 weeks. It is a beautiful hotel with great facilties and great rooms (we had a beautiful water view with balcony). It is really nice being able to walk to Epcot, MGM, Boardwalk, Yacht Club and Beach Club so that makes a real difference.
The only downside was that we found that the Hotel was less Disney and more Starwood and the kids were a little dissappointed with that although they soon forgot once we got going into the parks etc.