I faced exactly the same decision just about 1 year ago.
I was really torn. The 12 extra years were attractive, but realistically, I'll probably be dead by that time, so not much of a benefit.
We always LOVED WL and stayed there over and over again. I received a lot of advice at the time on these boards to "buy where you want to stay." Good advice was also to consider that VWL is the smallest resort, at 137 units.
Not that I thought I would always be able to plan 11 months out, I at least wanted the option to be able to, and get my preferred resort. I decided to buy a VWL resale, and then did a couple of add-ons directly via
DVC (my guide at the time really pushed SSR, I did not know that if I had pressed it, I could have bought VWL direct. I did however, save a bit of money at the time).
So, what has the impact been? Well, we who never thought that we would plan 11 months out, already have 8 nights booked in a 1 bdrm for December the week before Christmas. I know it would have been tough to get, had we been booking 7 months out. We're also planning our 2007 bigger family vacation, and again, we know that we will be able to book 11 months out.
I love waking up and sitting on the balcony, sipping my coffee and looking at the trees, or going down and sitting on the front porch in the early morning quiet. We never get tired of renting bikes and biking through the woods, or renting a boat and going out on the water or over to seven seas lagoon. Everytime we visit, a must do one night is to go down to the water and watch the electrical parade. I never tire of walking into the lobby of the main building and seeing the ceiling suddenly soar up, and hearing that music!
I have never had any regrets about buying VWL. We stayed there and we loved it even more that staying in the main building. The choice has always felt right for us.