The view could be great or spectacular. We have stayed there a few times in a lake view room and had a view of the MK and the lake. Enjoy your trip. It is a wonderful resort!
Just got back a few weeks ago. Loved our lake view. It is a good location. While not our favorite DVC (VWL is), BLT is nice. See my trip report for a view from our balcony.
YAY, exciting news! We stayed at BLT last month and did not like it at ALL! Some of the reason for the dislike was personal preference. While it's so close to MK, it just didn't feel very Disney to us. The other part of the reason we didn't like it was that our room was awful and the staff we encountered with the exception of 2 CMs were rude and unwelcoming. Crossing my fingers that you have a MUCH better experience than we did!!
Awesome!! We stayed there in June and we loved it, it is also our home DVC (but VWL still remains our favorite). We absolutely loved watching Wishes outside of the Top of World Lounge. I agree that about the Disney feel of it but The Contemporary was where we stayed on my first Disney trip when I was a kid. I have a major soft spot for it and Bay Lake