I was there recently. If you have children, they will have a blast. The property recently ( in the last 2 years I believe) opened its own on-property water-slide park -- the children love it.

Palomino Island is great, and while the ferry ride back and forth can be irksome (having to wait for paradise when it is so close at hand is torture!) the ride itself is wonderful and the children will love the upper deck.

The grownups will have a good time as well. The spa is magnificent (and if you are diamond, you enjoy free access to it), golf and casino are fun as well.

The pools throughout the resort are amazing (including the swim-up bar.)

I would also suggest you check out kayaking the bio-luminescent bay; also visit the nearby rainforest and national park, El Yunque. If you have the time and inclination, Old San Juan is a great day trip -- rent a car (Enterprise car rental is on site, adjacent to the concierge) and visit the two forts perched atop bluffs overlooking the Caribbean Sea -- truly awesome and great fun for adults and children alike. There are some tourist shops on narrow, winding cobblestone streets which I can take or leave, but the architecture, history, restaurants and street food are fantastic.

This last point brings me to my biggest beef I have at the property -- the dining. There are some fine restaurants on property (and yes they are over-priced) but do yourself a favor and venture outside the resort to sample authentic Puerto Rican fare (which, shockingly, is not available on property.)

I recommend La Estacion (2 minutes from the resort, an incredible Puerto Rican BBQ with great seafood and Churrasco), El Bohio (great for seafood and Lobster) and Pasion Por El Fogon (try Puerto Rico's national dish, mofongo -- and everything else is incredible too.)

Hope this helps.