We stayed at the 4S Orlando just a few weeks ago, over Columbus Day weekend, with the "Stay 2 nights get the 3rd Free" promotion, and I am working on my review (which I will post on this board as well as on Trip Advisor). In short, we were very, very pleased with our choice to stay there and would definitely return!
The property is absolutely stunning, and the transportation to/from the parks was seamless. My 5yo loved the water slides and pool area/lazy river. There were definitely still a few kinks to be worked out, but staff were quick to correct any issues we had, and did so with a wonderful attitude. I promise to post my full report with details soon, but feel free to ask any specific questions and I will try to answer them!
RE: the beds, our family of three had one king bed with a fold out sofa for my daughter and it worked out really well. I agree that 2 double beds don't seem to make sense...