The Lotus was still partly being rennovated when we went (about 18 months ago) so they should have finished it now (or at least most of it).
The rooms were OKish - nothing fancy but they had a fridge and kettle and things and the beds were clean and comfortable. Ours was a 2 bedroom one so it had a small sitting room. There was a balcony but no patio furniture (this could have been sorted out now though as they were still working on the place). If you wanted to take some of your own food and drink, I'd recommend that as the small shop there was on the pricey side and only really sold things like crisps and ice creams (the small amount of wine they sold was an astronomical price).
The water park was quite good but they kept turning it off in the afternoon, but there were hardly any people there when we went - about 3 other families in such a massive place! There was another swimming pool but no shade (again, this could be sorted out now). They were also talking about putting in a big slide/waterpark thing at that pool so I don't know if they will be working on that now.
The beach wasn't the best but they don't seem to clean it much. The bar and restaurant by the beach were OK, food a bit average, but it was quite a nice setting out there, a big green lawn and pretty peaceful.
The Pulai, we went to a while ago (more than 3 years ago) and that was OK but the pool's not as much fun for kids. It was also more expensive than the Lotus for drinks/food etc (we walked down there for a drink while at the Lotus and were surprised at how much more expensive it was for a few drinks). Out of the two I'm not sure which one I'd stay at again.........probably the Lotus as there would technically be more going on for kids (if there were more than 3 families staying there

), but the Pulai is more hotel-like, the Lotus is a bit holiday-camp-like.