We are a family of 5 and I know what a dilemma this is!
Here was our experience:
1. We bought BLT a few years ago as the best choice for our family for lots of reasons, but a major consideration was that we would have a bed for everyone. This was important because we often fly and do not want to lug an air mattress with us. We have all girls, so them being together and sharing beds/bathroom/changing space/etc. is OK.
2. True, BLT is more expensive than OKW or AKV (whether you go direct or resale), but we were willing to pay the extra to have the two bathrooms (which cut out OKW) and for the location. We've stayed at AKV but just personally we think it's a bit removed from things and wouldn't want to own there (for many, this is exactly why they love it there! It all depends on your family).
3. At both BLT and AKV, my girls fought over that pull-out chair. I never slept on it, so I don't know whether it was a comfort thing, or an I-have-it-all-to-myself thing or what, but my kids loved it. No complaints on the pull-out sofa, but they wanted the chair. Seriously, in the fantasticness of Disney and in these fabulous accommodations, they would have arguments over whose turn it was in the sleeper-chair!
4. The other resorts (that do not have the pull-out chair) seem to allow you to book 5 in the room, but you will need to bring your own bedding and towels, as a pp said. I have not tried this yet, but you can do it. This could work if your kids are small enough that one can share with you in the king-bed. Otherwise, you could bring an air mattress, though it might be tight on floorspace. I posted a thread on here once asking if people thought DVC would eventually add those sleeper chairs to all the resorts (I was hopeful!), but most responses were that there isn't enough room for them, so the configuration or square footage must not allow for freedom of movement around it when folded out, so you may be crowded if you leave the air-mattress out all the time (maybe just prop it up out of the way when not using it?). But the important point is: booking 5 in these rooms is legit (you're not 'sneaking' a 5th person in), and the 5th person will get a key-card and
DDP (if you want it), etc.
5. I saw somewhere (not on the DIS) what was apparently an old description of BWV that mentioned a day-bed in some of the units which was suitable for a child. I am of the understanding that either this does not exist anymore (they were removed from the units?) or that it's no longer considered a 'bed' (they don't provide bedding for it?) and also that they were terribly uncomfortable to begin with. No personal experience with this, just sharing in case you come across mention of that in your research. We are actually in the ROFR period right now for a BWV contract (love this location too!) and are hoping to try out a 1-BR in a few years on a trip where we plan to drive. If it's too crowded with the air-mattress, we'll save points for 2-BR stays there.
Hope this was helpful. Good luck making your decision!!
