We stayed on 5th floor (before it was
DVC) and had a WONDERFUL view. Definitely not too high up. We saw a variety of animals...and they schedule the feedings, etc. so that the animals are right there at times when guests are most likely to be in their rooms (early morning, late afternoon), so you will always see something.
If you are a park commando, then I would say it is definitely not worth it.
One thing to be aware of...we did a split stay one particular trip...started at OKW and then moved to AKL. At OKW, we were in the way back of the resort with, basically, an overgrown foliage view

...with some water. But sitting out on the balcony was SO silent and peaceful. While at OKW, though, I kept counting the days until our AKL portion of our stay. I wanted a great view! Bored with the foliage at OKW.
So then we got to AKL--great view---loved it. The kids were on the balcony every second that they were in the room. BUT...realize that the view is "THE" reason for AKL, right? So that means that
everyone else is on their balconies as well. It was actually
LOUD out there. Not that people were yelling and screaming...but just lots of people chatting on lots of balconies, and lots of excited kids shouting..."Look at THAT."
Only then did we appreciate the tranquility of that OKW balcony....