Well here's what I can tell you.
Wyndham Bonnet Creek is definitely a different experience than staying onsite. Beyond the cost, there are going to be some other pros and cons for you.
The most obvious to begin with is that it is a timeshare, and in general, they will try and convince you to attend a sales presentation. The reality is that it's VERY simple to get around this if you know how. The first is to straight out lie when you get your parking pass. The 2 tricks that have been used successfully by others here on the DIS is to indicate your income level at the lowest level. The other is to tell them when you get your parking pass that you are married and your spouse isn't with you. Since they like to have both people in the room when they try to sell you, not having the spouse able to attend is usually a show stopper as well. outside of that, You can always turn off your room phone or turn off the ringer, which will keep their attempts to call you back from annoying you.
The other big thing is that it's not a Disney Hotel, so that means certain onsite benefits won't apply, such as EMH, and free parking at the parks... As a Timeshare Condo, you also don't get daily house(or mouse)keeping. You do however still get a washer/dryer in your room which can come in handy allowing you to wash clothes/etc during your trip. Personally, I'll often throw a load in before bed or while at the parks.
On the flip side however, The resort is still located "within the gates", so you don't ever have to leave the Disney Bubble by going outside the Arches if you don't want too.
You also get a much larger unit for much less than what you'd pay for a Disney hotel room. With a family your size, The "Magic" of being able to spread out (kids in a room with 2 doubles of their own, or even a bed a kid if you include the pull-out couch), have some privacy with your husband after you send the kids to bed (Master suite with a king bed), or even of having 2 bathrooms available for the morning routine, could possibly outweigh the "Magic" you get from staying onsite at Disney in a regular hotel room.
Because of WBC's location, you are virtually surrounded by Disney. depending upon where you are on property, You could look out over Typhoon Lagoon and Downtown Disney, Or see EPCOT with the MK behind... Or even look over CBR/Pop/AoA towards MGM.
For those who are die-hard Onsite people, I personally feel WBC is probably the best option for a baby-step into your first offsite experience. There comes a time when money or space requirements start to make Disney onsite options less than ideal. WBC's location and resort amenities make it much less of a off-site transition than many of your other options. As your kids get older, and bigger, It's likely that sooner or later you are going to outgrow being able to have a comfortable and relaxing Disney Vacation all crammed into a single moderate or Deluxe room.
(Oh... and I know some people mentioned the place feeling cheap because of the laminate countertops or furniture. Reports are that recently refurbed buildings have started receiving granite countertops and the furniture has been replaced with some with a much nicer look/feel).
We'll never stay in a Disney resort again. 
Especially when you look at the DVC MF vs the Wyndham MF's.
