We rented ACME ranch for a week in January 2013 for a corporate retreat, but I can see it being equally perfect for a small wedding or family event. We had a total of 26 guests, and even with that amount of people we hardly felt crammed. The home is absolutely beautiful and surpasses the photos you'll see online. The home is very well designed and very conducive to entertaining and accommodating large numbers of people - the kitchen, main living room, outdoor living room and pool/spa are all within easy reach of one another and have multiple access points. We did a fair amount of cooking while at the ranch, and found the gourmet kitchen (TWO large refrigerators, double ovens and quality appliances) and outdoor grill station a delight to use. There is no finer place to watch a sunset than at the crows nest at the ranch. Overall, a wonderful experience.
While there, we walked down to the lovely Flat Creek Winery (30 minute walk) where they were extremely accommodating to multiple dietary requests and organized a flat-fee delicious lunch for us all - a beautiful place, wish we had more time for a vineyard tour! Also, Maria's in Lago Vista (20 min drive) hosted us for a lovely dinner one night as well. We drove into downtown Austin one night for a night on the town on 6th street, took us about 1.5 hour with rush hour traffic - a great outing during the week, but not ideal if you're intending to be in Austin every night.
Would definitely rent the ranch again!