Well, at the time- 26 years ago- it was incredible. Surrounded by a golf course, 1,005 square foot one bedrooms- 2 bedrooms, grand villas, full kitchens with washers and dryers, etc. It, at the time, offered more than any of the other resorts did in terms of room amenities and proximity to golfing to give it that "home away from home" feeling. So now, today? Sure. The contemporary is also awful today outside of a monorail going through it.
But to compete with the likes of their last 3 resorts they've constructed- the last finished one which hasnt been selling like before- it is going to fall very short if there is no easier way to transfer to a park. Like I said, the only thing that will make it appealing is either A) ammenities or B) point cost per night
But to bring it all back to your point- if Old Key West opened today- with what the other offerings are now- do you think it would be the resounding success it was in 1991? No chance. Thats what CBR will be if they don't significantly plus (or discount) it.