If you have young kids....
I would suggest a Deluxe because all of the resorts (except AKL) are close to Magic Kingdom and a short Monorail ride to Epcot. This comes especially handy for those mid afternoon naps or swims.
If you have teens.....
I would suggest moderates such as Carribean Beach and Port Orleans (French or Riverside). These resorts are close to Downtown Disney and alot of the "clubs" are within a 10 min bus ride or 20 min boat ride. Also, these resorts are centrally located around MGM and Epcot.
If you only have adults...
Its up to you! I would suggest a split stay for your first, so you can experience both Deluxe and Moderate resorts.
Here is a list of mods and deluxes....
Animal Kingdom Lodge-Deluxe-Animal Kingdom
Beach Club-Deluxe-Epcot
Boardwalk-Deluxe-Epcot
Carribean Beach-Moderate-Epcot
Contemperary Resort-Deluxe-Magic Kingdom
Coronado Springs-Moderate-Animal Kingdom
Grand Floridian-Deluxe-Magic Kingdom
Polynesian Resort-Deluxe-Magic Kingdom
Port Orleans French Quarter-Moderate-Epcot
Port Orleans Riverside-Moderate-Epcot
Yaugt Club (sp?)-Deluxe-Epcot
I think I got them all

Feel Free to Critique...
Hope this helps
