Here are my thoughts after now going to Lookout Cay twice and
Castaway Cay on the same cruise - the only cruise to go to 3 Disney destinations in a row!
Beach: the beach is gorgeous. Pink soft sand, on a calm day very tranquil water but on a very windy and rough day, there are small waves that take away the tranquility. On a calm day, the best beach I've ever been too. On a windy day, still nice, but not the complete calm and tranquil shelter of Castaway Cay and less desirable. At least the ship can still dock on windy days, so that's a plus.
Pier: I will say, it doesn't look as bad in person as it does in the photos. The walk is about 15 minutes, and really not terrible IF you are generally mobile and able to walk. Tons of wagons for toting kids and things. Also, each light post has speakers and it gives a nice ambience as Bahamian music plays (this is true throughout the island, including the restrooms). I no longer have really young kids - my youngest was 7, and we all walked fine. BUT, I still think it was a huge mistake and it should have been designed to accommodate the tram. That would have been what the Disney of 20 years ago would have done and would really upped the experience.
Tram: the trams are constant and large. But the trip is boring and the narration hokey. I really wish they'd done something more creative here.
Food: flies were present at the buffet and a bit of a nuisance, but not as grotesque as the first sailing showed. I think this is something that Disney will get under control. Once we took the food to our tables, we had generally no issues with flies other than occasionally swatting one away, as is normal for eating outdoors. (At Castaway Cay the seagulls were almost more of a nuisance trying to steal our food while we ate). I thought the quality of the food was just OK. Somethings were good, the ribs were great, I liked the spicy chicken sandwich, other things were meh.
Beach Chairs: We were on the Magic, and the ship was not full. Even so, it appeared to me that all chairs along the beach were taken by mid-morning. If the ship was full or it was a bigger ship, I fully expect that people would have had to sit in the chairs behind the dune, which I think is quite disappointing. In comparison, seating at Castaway Cay was plentiful even when we got off the ship over an hour after they allowed people off, we had no problems finding beachfront chairs.
Facilities: The trees need to grow in, and I'm sure they will. It felt a little barren. My kids played in the kids splash area and really enjoyed it - much more than they enjoy pelican plunge. For the 13 and under, it seemed pretty popular. Any older than that, and probably no so much. The buffet and seating areas were quite nice and plentiful. Bathrooms were nice, clean, cool and music played. I didn't personally explore much beyond that.
Overall Experience: Obviously any discussion of Lookout Cay will be compared to Castaway Cay. All 5 members of my family prefer Castaway Cay. It is the truly perfect beach experience in our opinion. Easy, plentiful chairs, gorgeous, fun snorkeling (snorkeling at Lookout was nice good reefs to explore). Lookout Cay was very nice, gorgeous beach, but not the Disney experience we love. It's more work than Castaway. If we can only go to one, Castaway Cay would have my family's vote. I wouldn't hesitate to book a cruise that goes to both, though. It's nice to have options, but I'm a bit disappointed as I had high hopes and Lookout Cay is really nice, but Castaway Cay is my happy place. I think that is a common sentiment.