We originally booked to stay at the JW Maldives the first week of October. They delayed their opening until November 1st with a soft opening of October 15th. We were re-accommodated at the St Regis in an OWV at the 85k price per night (which after the peak/non-peak pricing kicked in Marriott was kind enough to return some points since some days fell in off peak even though the hotel was sold out). They also only ask us to pay the cheaper flight, which saved ~$200.
Upon arriving I spoke with many employees who said over and over that we were very lucky to have been moved as a majority of the employees at the resort are new to working in hospitality, they finalized their menus two weeks before opening, etc.. Even the GM at the St. Regis said we were very lucky and spoke at length.
Beyond the service many staff I spoke with, who are natives of the Maldives, said that it's a subpar location due to choppy water and that the seaplane can have difficulties taking off and landing when the water is not flat.
I think 85k is a great deal for an OWV, even better if you can get off-peak pricing. The island looks like it may have more beach space than the St. Regis and the villas are spaced out a bit more. What I can't tell is if they've added more sea wall barriers to the south part of the island and to the OWVs on the east side. Beyond the fact the base room is an OWV, it seems the St. Regis has an advantage in every other area. There are already complaints on Flyertalk that on first appearance the menus seem to be more expensive at the JW than at the St. Regis.
Eager to read the first reviews.