I had the pleasure of staying at Meeru Island Resort during the Maldivian Independence Day holidays - I ventured there with friends, and I was extremely satisfied with my stay. The resort is quite large, but you never feel as though you are overwhelmed at any stage - the resort is very classily put together and shows careful consideration and thought about not only the wants and needs of its clients, but also for the environment.
There is an absolutely endless array of leisure pursuits on this island - my highlight being the 9 hole golf course - which can be enjoyed solo, with family, friends or with anyone willing to swing a club. The French golf pro who accompanies the course is extremely friendly and is willing to assist at anytime. His warm nature makes you feel instantly at ease, whether you are a golfing seasoned campaigner, or an out-and-out novice.
The pool and bar area are a huge highlight, with the views emanating from them nothing short of stunning.
The rooms are quite acceptable without being decadent, but seeing as there is so much to see and do on the island you rarely find yourself in your rooms long enough to grumble about it.
The food and the service too are decent, and definitely add to the experience.
Lonely Planet calls this Maldivian Resort - "The best budget resort in the Maldives". I whole heartedly agree.