It's a really good question. I'm not sure we'll be back for a while, but if we could get another ocean view that was close to as good as 1204, I'd be hard pressed not to use extra points.
One thing that I noticed is that in the ocean view room, we didn't mind being in the room. You never have that feeling like you're missing stuff that's going on without you -- just open your balcony door, and you're right there. In the standard view room, I definitely felt a much more pressing desire to get the heck out of the room. Sitting there in our ground floor lanai was out of the question, when you could just go sit at the pool area. Sometimes I think view is overrated, but not in this case -- it really did make a difference.
We were jet lagged so got up around 4:30 the first couple of days. Sitting on the balcony in the ocean view room watching the resort wake up was awesome and added to the vacation. If standard view was the only way I could have enough points to make the trip work, I wouldn't hesitate. But if it is just a question of whether to use the extra points, ocean view is definitely better.