I've answered this question so many times I hate to sound like a broken record, but here goes.
Yes, to me it is TOTALLY worth it if you pay attention to when you go and take advantage of good rates. There are many perks, many of which have been mentioned. The biggest, for me, is the atmosphere and never having to be on Harbor Blvd, a place I detest. I love going through DTD. I love the music and theming and landscaping.
My hotel of choice is the DLH. The grounds are gorgeous, the facilities wonderful, the rooms large & fun, and you're likely to see characters like Goofy greeting guests. You're near RFC, the monorail station, and Compass Bookstore (good coffee and breakfast items). They have free coffee in the lobby of each tower with to-go cups, creamer, and half-and-half. The restaurants are very good. I really don't get why people feel it's such a long walk from the park--it always seems quick to me, whereas the walk from Hojo seems sooooooooo long. I think it's the difference of where you're walking, not the actual distance. You also do not have to wait for any traffic lights or worry about getting your kids across the streets.
My second (and sometimes first, depending on who I'm going with) is the GCH. I love the Hearthstone Lounge at GCH!!! Whitewater Snacks next to their pool is also fabulous. GCH has Pinocchio's (I think that's the name of it), where kids can go for some fun playtime while the parents get to be kid-free for a while. It's pricey if you have more than 1 child, though. Anyone staying in a DLR hotel can use this facility, btw. The back entrance to CA is wonderful, the lobby is amazing and the shops are fun. They are very close to Haagen Daaz (sp?) and some good eating choices in DTD. It's a close walk to DL, but if you get one of their rooms that is far from the lobby, it doesn't save you any time over DLH!! There is a piano player in the lobby, you get options for activities like Pilates and scavenger hunts and sing-alongs for the kids, and they leave chocolate doubloons on the pillows
I haven't stayed at PPH since it became part of the DLR so I won't comment on that one.
At any of the resort hotels you get MM whenever it's offered, package delivery from the parks to your hotel, and your room key can be used to charge things in the parks as well as throughout the resort. There are other perks that come and go and that are location-specific.
We do also stay at Hojo from time to time because the entertainment rate can be quite an incentive. My kids love the water play area (Pirate's Cove) and we love the large rooms. Mimi's Cafe is great and the kids love to be treated with a chocolate-dipped softie cone from McDonald's ($1). However, it is still a budget hotel in looks and feel which is not very important to many people but figures in for me. I like the better amenities you get at a resort hotel and find those hotels a better place to spend my afternoon break. My dh likes to be able to get a newspaper other than that generic one (USA Today, I think?) and we like to get a cup of coffee that isn't made in our room. We prefer not to deal with hawkers and transients on our Disney vacation. We don't want to drive, take park shuttles or walk across busy streets if we can help it.
I stayed 3 times at Hojo's this year and had a blast each time. I also stayed 3 times at a resort hotel this year and would do it every time if budget allowed.