My preferences are:
1. Lake Buena Vista area
2. south Int'l Drive area around Westwood Blvd and south (below Sea World)
3. Kissimmee, west of WDW
4. Kissimmee, east of WDW
5. central Int'l Drive area, near Convention Center and Mercado
6. (last) upper Int'l Drive area - too congested, some parts quite seedy
IMO, this gives an idea of where I've seen nicer lodging, with enough decent restaurants and things to do nearby. But, there are some VERY nice places in every area and some rundown places in every area. So it's not as simple as all that. Also, we always have a vehicle; we don't depend on local transportation; we don't eat out a lot; and we don't visit many smaller attractions, like mini-golf, museums and outlet malls. This colors our opinions.
Some folks LOVE to stay in the center area of Int'l Drive because they can walk or take the trolley to so many local attractions, nice shopping and good restaurants. It's a busy area that's also nicely landscaped and prettier in recent years, with tons to do.
BTW, with a budget of ~$150/night (like a moderate Disney hotel?), you will find LOTS of offsite options. Tell us what you want in a hotel and what local things you want to do while you're there. That will help people make some suggestions for an area or hotels to consider, which may suit you. Ex., there are a couple of hotel clusters that include a very upscale resort hotel, with more moderate hotels - where guests may use the facilities throughout the cluster. Or a timeshare resort with nightly or weekly rentals may provide more of a resort feel (inroom jacuzzi, nice pools, etc.) and still work within your budget.