The loss of the theatre hurts, I will admit, but the longevity of the restaurants in general downtown is exemplery (Columbia, D'Antonio, Seito, Town Tavern, Upper Crust, the Bohemium, The Cafe). Plus the Imperium, Thai Thani, Kilwins, The Irish restaurant, can't think of the name, Starbucks are doing real well.
As for Water Tower plaza, we miss the grocery store too but so what? It's barely Celebration out there anyway. It's way more affected by 192 traffic than Celebration.
Commercially things are much better in Celebration that I ever would have expected in this economy.
The future for the town is great and anyone looking for a quiet, well kept, self contained little community would be very happy here, IMO. The prices are UNBELIEVABLE right now and I don't think that will remain forever.