In November, we stayed at 3BR townhome in WH and loved it, for all of the reasons you are considering. We opted for townhome because grandma and grandpa were going with us, so we would have needed 2 resort rooms..
Price and location - It's cheaper, even when you consider parking, gas and rental car. And it is 15 minutes to the farthest point (Downtown Disney) from your front door. When comparing location of WH to Disney resorts, remember to include your walk time to bus stop at the resorts, wait time at bus stop for bus going to the park you're going to that day, and same on return trip.
What differences did we enjoy about WH?
Mornings - I loved getting out of bed when I awoke without waking up everybody else. I showered (private in each of 3 BRs), watched ESPN, and surfed the 'net thanks to WiFi before anyone else was stirring.
Since we hit the WalMart the first evening, the kids enjoyed the normalcy of a bowl of cereal and some fruit while sitting at a full sized dining room table, watching Disney, Nick and PBS on a 50" plasma, before a long day of sensory overload. (We did 2 character breakfasts while there) Mother-in-law whipped up eggs and bacon on some mornings, we did bagels and fruit on others. No walk to food court to eat same grub they would be eating all day...and for 8 days, this mattered.
Everything loaded into van just 5 steps from front door. No lugging strollers, beverages and such to bus station and then onto bus. And in the evening, same thing. I bought a AAA Diamond parking pass on eBay for $10, so we parked right next to the handicap parking lot everyday.
Evenings - Got to choose between 100's of familiar restaurants instead of same food choices as in the parks. We didn't do this because of price, but it was a great side benefit. Swim in the private splash pool on our veranda, or walk less than 50 yards to main pool. (We stayed at Caribbean Beach 2 years ago and had 10 minute walk to pool.)
Laundry - More sheets, pillows and blankets than you'd ever need - no need to call front desk. Full size washer and dryer, on second floor. Never had to put on semi-wet trunks, packed lighter than normal because of this option, and returned home with suitcases full of clean clothes.
Security - 24/7 gated community. Alarm on patio door.
And finally, the accomodations. It's an apartment -v- hotel room...a small hotel room. Every townhome BR has it's own full bath, plasma tv w/dvd and satellite, and are beautifully appointed. The kid's room was Mickey themed and professionally decorated. I actually caught my son in his room...reading!
Full size kitchen, living room and dining area...real sofas and chairs, end tables, range and fridge/freezer, dishwasher, microwave, toaster, pots, pans and utensils, ironing board, stroller, booster seat...need I say more?
Visit windsorhillsrents.com on 'net and look for unit that appeals. They're all privately owned, so prices and accomodations vary. We rented Mickey's World 2, and you can view this at mickeysworld.net. The owner was a dream to work with.
Best wishes