This whole question assumes that the 2 resorts are otherwise equal, which I do not believe that they are.
BCV has the advantages of:
1) SAB. The value of this pool is underestimated imo, especially now that only BC, BCV, and YCers can use it and crowding is therefore no longer a problem.
2) only a 3 min. walk to Epcot. The resort is so close you feel like you are a part of Epcot, which is both convenient and magical.
3) You can choose whether or not you want to be a part of the action at night. I agree that there is more action at the Boardwalk; however, most of the time we would rather retreat to a very quiet, country club type atmosphere. It is easy enough to walk over the bridge if we want action.
I think the fact that
DVC can sell BCV at $80+ pp in a down economy is a testament to how much value there is in this resort. (Remember, many -- if not most-- people who purchased BCV knew they could have bought BWV for significantly less and chose not to.) SAB has very broad appeal and BCV location can't be beat. When I talk to most families (not just DVCers) about what they want in a Disney resort, view is usually not a high priority. Most BCVers are out enjoying the resort and not wishing to spend a lot of time hanging out on their balconies anyway.
I also don't think any of the views at BWV are that compelling anyway. If I'm going for a view with genuine beauty, I'd probably check out AKL or maybe VWL. When we went to BCV we had a view of Spaceship Earth and the fireworks and the view and noise from the road were blocked by vegetation. Is this so inferior to BWV?
Yes, you can save points with a standard view, but you have to book at the 11 month window and this is just one of many strategies for saving points. You could also buy VB points very cheaply, be flexible about when you go, and get into a nice on-site resort at the 7 month window. So, some would argue that VB is the only way to go because it is most point efficient, but this would assume that VB is an equivalent resort to the on-site resorts and I do not believe it is.
So, again, I don't think the question makes much sense unless you assume that BCV and BWV are otherwise equivalent. Only if you believe they are equivalent does the standard view make BWV worth more, just as VB cheapness would only make VB a better buy if it were otherwise equal to the on-sites.