We never turn it down!
My family has had the priviledge of owning timeshare through RCI, which allows us to ask for any transfer we wish, and on more than one occasion, we've chosen The Resort On Cocoa Beach.
The atmosphere in the resort is warm and relaxing, almost from the minute you walk in the door. The staff have always been friendly and I've never had any problems getting assistance with any problems I have. The ammenities are well worth any expense, with a theatre, fitness room, tiki bar, tennis and basketball courts, and don't even get me started on the pool and beach services.
Pros? The Resort is clean and family friendly. They also (like their sister Resort, Discovery Beach Resort) provide a towel exchange DAILY! Leave your beach towels at home, because you won't need them here!
Cons? As I said, the rooms are clean, but, as someone said earlier, there are no non-smoking rooms. Although the rooms are a bit on the small side, they're not too bad. I've never had any trouble with smoke stench problems, though. Also, the restaurant has gone down hill in recent years and the wait staff does have a bad attitude. Bar's great, though!
Bottom line? The Pro's definitely outweigh the Con's. If you have the chance to go here, take it.