I've found it pretty busy every time we've stopped by for some before dinner drinks. This last trip(21DEC-1JAN) the lines were out the door when we walked by before Narcoossee's. The last time we actually got some drinks/food there we were seated in and to the right, which is a long booth type bench with multiple tables in front of it with chairs, so half of your party is bench and half was chairs. There were other tables around as well. We felt the atmosphere was fine, the drinks adequate and the truffle fries pretty good but I wouldn't have considered the experience special.
Are you staying at GF and want a place to hang out for drinks, is this like pre V&A or Citricos where you'll be dressed up nice already and waiting for a reservation? Or are you just in the monorail loop area looking for a nice lounge to hang out? I would say if you're waiting on V&A or Citricos, it's a fine spot to be before the reservation hits. If you're staying at the resort in general, my favorite bar on property is Narcoossee's. You don't have to have reservations to sit at the bar but there's only like 8 seats there so it will fill up. It's intimate bar seating and you get very good attention from the bartenders, Sergio is just a delight in particular.
If monorail loop is a consideration I am partial to both the Steakhouse 71 lounge and the outside tiki one by trader Sam's at Poly. My preference is to the outside tiki one as it seems nice and secluded and enclosed, you get your own table, they pipe fireworks music in and frequently have music. Plus you get some good snack options.
If venue wasn't a consideration at all for you, then my favorite lounge period on property is Victoria Falls in Jambo house. Intimate, great atmosphere, they let you take drinks and walk around if you want and the goat cheese dip is amazing. If Joe's working, have him make you that off menu Old Fashioned he does, it's quite nice.
Sorry this turned into a lounge rant hah.