Hello:
Just reporting back, as promised. We just got back from our Western Caribbean cruise (sail date 7/31), and had a terrific time!
I saw that room 1220 became available prior to our cruise, so I changed the room from 1201 to 1220. It was a good move.
Contrary to what Celebrity states, Rooms 1201(and 1200) DO NOT have the large balconies. They are about 1/2 the size of other suites on that floor. Furthermore, you lose the "private" portion of the balcony--i.e. part that's covered. Anyone walking around on Deck 14 above can peer right down onto you, and you have no privacy!
Also, 1201 and 1200 are the suites closest to the "busy" part of deck 12 (surrounding the pool), further compromizing your privacy.
So if you care about those things, I would try to switch. I think the suites on the Penthouse deck are preferable to 1201 and 1200, since privacy and quiet are pretty important for us. Having said that, however, the location of these Sky Suites are fantastic! We enjoyed just going down a flight of stairs to go to the Islands cafe, to the pool, Gym, Spa, etc. Everything was just so convenient!
Of course, if you can find any other suites on deck 12, those would be the top choice...best of both worlds.