We stayed at Treehouse Villas in mid-June. There are some pros and cons.
Cons:
1) Even though "sleeps 9", its not great for more than 2 adult couples, since the 3rd BR is bunk beds, and 3 people end up sleeping in the living room.
2) Compared to other Disney 3 BR, it is MUCH much smaller.
3) Distance/commute time - there is a THV bus that takes you to the main entrance, where you get a bus to the park. Alternately, you can walk across the golf course to get a park bus. Either way, figure this into your transit times. When we were there, it was in the upper 90's and we had 2 little ones in the group - made for a Looong walk or ride back "home" - even though there was a bus stop 2 houses down, and the boat (to DTD) just a tad away in the other direction.
4) Personal preference: the "woodsy" decor kinda reminded me of the 1970's, so I didn't get the usual Disney "wow" factor, just a mild "gosh that's groovy" vibe.
Pros:
1) Setting - we were right on the waterway, and the houses are really nested into the woods
2) Quiet
3) We love the pools and Artist's Palette at SSR
4) The master bath was awesome
5) Who hasn't wanted to stay in a treehouse? Every evening when they got tired, the little guys kept saying "can we go home to our treehouse?" Aawww!
Overall, I'm glad we had the experience, but I don't think I'd do it again. For about the same
DVC points, I think we could have had 3 studios - but then we would have missed out on the "togetherness".