My husband and I just returned from our cruise aboard the Fantasy on 05/22/06. The only thing I could see "newly refurbished" was the spa. It is state of the art, but the rest of the ship-Fantasy Lounge (where the shows are held), the dining room, atrium, and staterooms resembled more of a Motel 6.
We did not take our 7 year old son this trip, but I did look into the Camp Carnival program for next year. If we cruise Carnival again, I think he would enjoy the program.