VWL is a small resort; unless you can reserve at 11 months, you may have trouble getting a reservation at Christmas. Having said that, the decorations are spectacular at that time of the yrear and the proximity to MK would be a plus.
BWV is much larger and you should be able to get in at the 7 month mark (unless you own there?). Proximity to Epcot & MGM, walking distance to other resorts, and activities on the Boardwalk are pluses for staying here.
Just remember that the holiday season is the busiest time at WDW and plan accordingly; it is also a most magical time, be sure to enjoy it.
We booked a 2 bedroom at VWL at the 7 month when we went last Xmas. (OK, it was a week and half before but still pre-xmas)
It was so magical just entering the lodge and the activities they had in the lobby. Nothing beats sitting in one of those leather chairs and listening to a bell choir to get you in the holiday mood.
As a BWV owner since 2000, I politely disagree. With the possible exception of a standard view studio during the Food and Wine festival, the period right before Christmas and through New years books up faster than just about any other time at that resort. Unless one owns at BWV, I wouldn't put my hopes on getting anything during that period at 7 months.
I spent the week before Xmas last year in a 1-bedroom at VWL (I booked it in late July). I thought the decorations were tasteful but subdued - they could have at least put a Santa behind the checkin counter! I kept looking for more. I think either would be fine. VWL is closer to the MK and there are various activities that should be fun. The boat ride or watching the electric boat parade. BWM you are close to Epcot and MGM and there are the night time activities and the ability to watch the fireworks. I tend to think of Epcot and MGM being more adult oriented and MK geared more toward younger children. With that in mind, I think the evening activities at the Boardwalk area is geared toward older children but that is just my opinion.
I'll agree with BWV. There's nothing like sitting on your balcony or walking on the Boardwalk, listening to the Christmas music, seing all the garland-wrapped light poles, and admiring the tree all made of poinsettas on the Village Green.