We stayed in Aotearoa last October on the third floor. It was close to the GCH, but a further walk to the TTC, bus stops and the pools. Didn't love that, and at that time, the food court was next to the Neverland Club, which was by the bus stop. Now the food court would be closer because it is in the GCH closest to Aotearoa. It wasn't horrible, but I would have wished we would have been on the other side of the marina to be somewhat closer to the things that were important to us. We could hear the Luau every night, which some people find annoying, but we liked the music, but there is a lot of traffic walking in front of this building in the evening, and some people can be rude, swearing loudly and such, but that could happen anywhere!
I would caution you if they would assign you rooms number 3228 or 3229 (our room) because your view of anything will be completely blocked by a huge orchid tree. It was pretty and it smelled wonderful, but would not have been our first choice of views!! We arrived during the Funai Golf classic and did not have much choice of any other rooms. It sounds like you are looking for a monorail view though, so this would not apply, but just in case.
Enjoy your trip! It is a beautiful resort and it is what you make of it!