The Paradise Pier Hotel is a nice place. It is usually the lest expensive Disney Hotel. Staying on property will give you a few extra perks.
We have stayed there in the past and we did fine. It's not as far as people say for the walk to the parks. We were able to see the fireworks from our room which was nice. We were too tired to stick it out at the park. It was a nice surprise to see.
As far as the meal plan... I have never used the meal plan. There are so many place to eat, we haven't wanted to be tied into the plan.
Enjoy your visit.