We just returned from 10 days at the Boardwalk, and the refurb there continues. We were in an old room, and some good maintenance work is definitely needed. But the redesign of the Boardwalk Villas has been compared to a Comfort Inn by people we talked to. It looks modern and out of sync with the historic nature of the resort.
Other Complaints included the removal of carpet from the rooms and replacing it with vinyl or faux hardwood. Not only will it be noisier, but dropped glasses will break easier, and little ones learning to walk will fall down harder. A long-time owner also complained that the bedding used to be a lot nicer than the thin white sheet and blanket combination that we're stuck with now. He also complained how one perk of buying years ago was the ability to go swimming at Beach Club. Gone. It would seem that pool-hopping to Beach Club for Boardwalk guests shouldn't put too much pressure on the numbers, but who knows.
Overall, long-term owners seemed to point out legitimately how things are not as good. I guess I would tend to agree.