I own at the BCV and I love it there, so it probably skews my opinion. I understand those who think the studios aren't as nice as the refurbed BC rooms. But I like the "theme" of the BCV. The decor at the BC is more upscale hotel, the "theme" of the Villas is a beach house in a by gone era. I also like the extra floor space the sofa results in and I like having the sofa to sit on.
If is was just DH and I, I would choose the studio over the BC room. I like the kitchenette. And I can stay in an "upscale hotel room" anywhere (and I do). I can only stay at the BCV at WDW.
However, if we were more than 2, I would choose the BC room