The ambience at the AS Resorts is in my opinion crowded and almost franticly paced. The rooms are quite small. I can't stand the garish decor at the AS either. It hurts my eyes.
The poolside bar at the AS has very limited hours, and closes if the weather is bad. At the moderates there is also a lounge off the lobby that stays open regardless of weather.
The pools at the AS aren't really themed, they are just pools. There are no slides. At the moderates they have theming, and are beautiful. At the moderates there are other recreational activities that vary from resort to resort, fitness centers, playground areas, cane pole fishing, bike rental, etc. At the AS the only activity is swimming, and the pools are generally very crowded.
Also, we've found the noise level at the AS to be unacceptable. It is the number one reason I won't ever stay there again. I've never been bothered by noise at the moderates.
If you can afford a few extra dollars per night, stay at a moderate.
I compare the All Stars to a Red Roof Inn or Fairfield Inn. Basic room, no extras. The moderates are like a Holiday Inn or Hampton, basic room with a few extras.
Anne