I stayed last October, it's really a great hotel, nice choice. I didn't have a a very fancy view, but it was pretty nice, my room was lobby level, facing Hollywood Way and Islands of Adventure (I guess you could call it a theme park view if you want). Had decent views of some of the rides, and had a great view of the lagoon and pool area while crossing the bridge on the way over to our room. Our room was a little bit of a walk to the lobby/restaurants and boat area, but not unmanageable, and I didn't mind it at all.f you
If views are make or break for you, I'd recommend trying to get a lagoon or a pool view (in that order), but honestly felt our view was perfectly fine. Felt well immersed, and could see the parks, can't beat it. Also, would like to second everything Mad Dog said about Strong Water, such a great place. Really, I had great experiences at every food place at the resort.
So I would say that if you get a lagoon, pool, or theme park view, your probably in good shape. It's a large hotel, but nowhere near unmanageable. I thought everything, including transport to the parks was extremely manageable.
If you have any question I (and I'm sure many others here) would be happy to help! Enjoy your stay at Sapphire Falls! It's really a great place to stay!
Edit - After looking at the map, I was also in Building 3. Seems like the place to stay. I circled on the pic, where about our room was.