Good choice!
We haven't stayed at the "sequel" (newest) phase, but we've stayed twice at the original phase of Marriott's Manor Club at Ford's Colony -- at the end of March 2000 (for 9 nights), and again a year later (for 2 nights). It was a wonderful place to stay, and we'd gladly stay there again. We didn't use
DVC. (We also own at a Marriott Vacation Club and are members of Interval International.)
The drive from Marriott's Manor Club to Colonial Williamsburg was about 15-20 minutes each way. The location in the midst of the exclusive Ford's Colony residential development is lovely, but it's isolated from Williamsburg's attractions and restaurants. This isn't a problem, but it's something you should be aware of.
I was surprised how much time we spent at Colonial Williamsburg. My kids (8 and 10 at the time), wife, and I really got into the many historical tours and presentations each day and the extra-cost evening programs. Seriously consider annual passes. They're dirt cheap compared to WDW, and you can come and go all week. If you're an
AAA member, buy them at AAA ahead of time to save money.
Spend some time at
http://www.history.org/ so you'll know what's available in Colonial Williamsburg and what requires advance reservations.
Dining at Christiana Campbell's, Chowning's, King's Arms, and Shields -- the historic taverns of Colonial Williamsburg -- was fun, and we were surprised how good the food was. You dine by candlelight, with no electric light bulbs in sight. Entertainers in period attire might sing to you. The menus are inspired by the cuisine of 230 years ago, but the recipes have been adjusted for modern tastes. Three of the taverns require advance reservations.
We also made it to Jamestown and Yorktown. Each offers a historic site operated by the National Park Service as well as a living history site and muesum that's run by the Jamestown-Yorktown Foundation. See
http://www.nps.gov/colo/ and
www.historyisfun.org/
We never made it to Busch Gardens, nor to the attractions of Richmond, nor to the Virginia Coast.
Because you'll have a kitchen and a car, you'll undoubtedly want to buy some groceries. Marriott's Manor Club is served by two Food Lion stores within few miles -- but they were both very disappointing. Ask the Marriott front desk to point you to Ukrop's market. It's about the same distance as the Food Lion stores, but it's hidden away from the main roads. It's a beautiful store with a huge selection of prepared foods.
Have fun!