I could get into a 'civilized' discussion (ha ha) about the merits of the GF and whether or not it is a 3 or 4 or 5 star resort, but I would rather maintain my sanity.
I looked up how star classifications are determined and aside from a basic list of specific expectations, the wording was very open-ended. Forbes was referenced as a company that initiated star rankings for hotels to provide travelers with an easy way to differentiate the different classes if hotels and resorts. After having read them, I also looked at the 4 Seasons website to see what those hotels have to offer as a basis for comparison. I would say that simply from a hotel standpoint, hotels such as 4 Seasons and Gaylord Palms are definitely 5 star without question.
I would still place the GF in the 4 to 4.5 category though. To me, it meets or exceeds the expectations of what places a resort in the 4 to 5 star classification.
Also, I feel that the WDW deluxe resorts are a bit more enigmatic. Personally, I like having the monorail service with direct drop off at the MK in minutes. We also like watching the fireworks from the balcony, beach pool or beach. My youngest enjoys the electric water pageant (for some reason) so we also get to enjoy that from the beach. The lobby at the GF is exceptional, especially at Christmas. We also enjoy riding the Waveracers on the lake. These are experiences specific to staying at the GF that I won't get at a 5 star downtown. For comparative purposes, I have been at the Gaylord Palm in DC at Christmas and what they have in the lobby is incredible. But we enjoy Disney vacations, and the GF (for us) is an incredible resort, from the check-in procedure and personal service, to the rooms, restaurants, and amenities - especially the amenities. As a last example, the 23rd was my wife's 21st birthday again and we were on the 2nd floor balcony near the GF Orchestra. One of the musicians saw my wife's birthday pin and announced to everyone in the lobby that it was her birthday. The orchestra than sang happy birthday to her and everyone applauded. As Spirit would say, it was a truly MAGICal moment.