I stayed there five nights recently. I think the public spaces and the amenities are quite successful. It really is a lovely hotel. You feel special just being there.
Of course, after PBH the rooms will feel small (they are). OTOH, for most people visiting Universal Orlando, the room is just a place to crash after a 16 hour day -- like on a cruise!
I'm surpised at the negative comment by wheatenwalker about the food. I found the food to be excellent, although as several people have noted it's quite expensive by Orlando standards. Perhaps the poster meant that there is little choice of price levels at the restaurants, which is quite true. You either have a pricey meal or none at all.
I should note, however, that the $4 kids buffet takes a bit of the sting out of the high-priced adult menu.