Definition of a good instructor really varies with what what is it you are trying to learn. More steps? Technique? In genearl, a good instructor is the one who knows what he's talking about, understands students needs at this particular stage of learning and can explain it clearly. My rule of thumb is if I leave a class or private lesson and later on my own I can practice what I've learned for 2-3 sessions (4-10 saessions for a private) it was a good class. If I'm in a "step" class I want the steps explained in connection with technique (all CBMs and rise and fall and such in Standard, all the actions in Latin) otherwise I find them undanceable and imposible to remember.
In a technique class I need both visual and verbal insructions. It is not enough for me to see how it's done, sometimes I need very detailed explanations. For example, it is not clear to me what to do when istructor says "pick up your posture" or "shape to the right". I need to know what muscles to activate in order to do that.
And, of course, everything that Laura says, I agree with.