LOVE KEY WEST and the GALLEON.
Three friends and myself spent new years 07 in Key West at the galleon. For what you get, the location, the price cannot be beat. These are time share rentals so you can't go on a expedia to book. You will need to book the place through the resort.
Now this isn't a typical 5 star resort, but you can't really find that in Key west anyway. It does however have great "beach house" type rooms. We stayed in a smaller room, so I am not sure what the suites are like, but I found there is no need to spend time in them. We spent most of our time at the tiki hut bar that has live music at times, and our bartender Andy is the BEST! He can always whip up some good tropical concoctions.
There is a small private beach, but it is small. Beaches are really rare on key west anyway, so it really isn't a downfall of the place at all. We pretty much layed out up by the bar. there are great lounge chairs and you are right on the water. THat is the other great thing about this place is the location - you still get the GREAT sunsets that you get at Mallory square without the crowd, and you are walking distance to everything.
The staff is friendly and helpful. We had such a good time there that 2 of us went back 4 months later, and whenever I go back again, I won't stay at any other place other than the galleon!