Deb Wills does a great job of defining concierge on her site Allears - Concierge .
In a nutshell, concierge service does a lot of the footwork for you and works to make your stay go smoothly. Many hotels include a club room or lounge for their concierge guest where they can find complimentary snacks and beverages. Concierge at Disney provide a continental breakfast, morning and afternoon snacks, hors d'oeuvres and wine before dinner and desserts and cordials in the evening. They will make your PSs for you and take care of needs that might arise during your stay (like re-booking a flight, send a suit out to be cleaned and pressed, etc.).
The "value" of concierge level rooms is debatable. You are not going to feed your family on concierge food for your entire stay, so do not consider booking it if you think you'll save money on food. However, if you're looking for a little extra pampering during your stay, you might want to look into it.
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