Cypress Point is very close to Downtown Disney. It is on 535 and north of I4. If you are familiar to the Crossroads shopping center, where Goodings it is a block or 2 north of there. If you were to be at the end of Hotel Blvd, you would make a left and go up a few blocks, it is on the left side of the stree. Commuting to WDW from there, especially DTD, would be about 5 mins.
As for the quality of this resort, it was in reasonably Good condiditon. We were in the Grand villa section, which is newer, and had a few maintenance problems at check in which were repaired quickly, but these items should not have been missed by the housekeeping staff. The common areas were well maintained but, cleaniless was a problem with the pool bathrooms. Check in and Check out was ok, about 20 mins. I would not pay any more for this resort than your 59.00! Also, I doubt that we will exchange into this resort again since there are higher quality resorts in the WDW area, although for 59.00 for a 2 bedroom, it would be adequate. If you are wanting a luxury experience, this is not the place for you.. If you are wanting a nicer larger place than a standard hotel room, in reasonably good repair, then you will get what you expect. In my opinion, the overall quality, price and cleanliness will almost compare to Residence Inn equally. I'd try it. Feel free to post more specific questions.