I happen to love VWL, so take my comments with a big grain of salt.

- it's a quiet resort, overall. . perfect for napping kids (having had that experience not that long ago)
- there are beaches, nature trails, and a walking trail to Fort Wilderness
- the Hidden Springs pool is small but rarely crowded. . .it has no slide (if you want to use the main pool, you can and it does have a slide) but does have several areas where bubbles float to the top continuously as if springs were underneath your feet (thus, the monniker for the pool)
- Roaring Fork is an above average counter service eatery; Whispering Canyon Cafe might be a bit rowdy for the 1-yr old but your 3-yr old would probably love it
- easy access to FW via the walking trail (you can rent trolley bikes, too) or bus system, and as mentioned, they have a petting zoo, stables, and a buffet restaurant (though I've not eaten there)
- I've never had a problem with the bus system, and the Villas are close to the bus stop
- the boat ride to MK is a real pleasure, especially given the times you'd likely be traveling. They tend to get crowded later at night going to and from MK, however. But, the boats do give you a second travel option.
- the Electric Water Parade is cool for smaller kids, and can be seen from many locations at the WL, including the beaches
- you can see the MK fireworks from either the boat docks or from a couple of strategic beach locations. . .obviously, you aren't up close and personal with them, but they're still cool to see, anyway
Okay, that might be info overload, but that's my take on VWL. I'm sure wherever you stay, you'll enjoy it, however.