You can tell by my login name what my vote is... It does depend on the length of your stay. If you are staying more than 3 nights, I would suggest the FW cabins. It is hard to believe that there is peace and quiet so close to the Magic Kingdom. The resort has its own internal transportation system. We like to rent a golf cart, but some people stroll the grounds or catch the buss. The FW offers a nightly campfire with Chip n Dale for free and a outdoor movie. Smores are available for a small fee, as are other snacks. At about 9:45 there is an electric water pageant that passes the beach--check for time. There are pony rides at the petting farm @ $3 (cash) and the horses of Disney are housed in the barn close by. Feel free to roam.
The resort allows RVs and people really take time to decorate their spaces during the holidays.
I would stay at WL for less than 3 nights--if choosing between FW & WL. The WL offers quicker transportation, and you could still visit FW, but you won't get the true feeling of the FW until you are sitting outside on your picnic table with no one around.