I would agree that I would either do the OKW 2 BR villa or the ASMu Family suite + 1 room.
The OKW 2 BR does give you the full kitchen and the full size laundry area, which can be a big plus. With that many people travelling, if you can cut down on luggage by having thw ability to do some laundry in the room, I ithnk it would be great. Plus, you can also buy some food and do breakfast in the room...quick and easy like cereal, toast, bagels. I find we get out and about quicker if we have breakfast in the room rather than lingering around a food court or whatever. Some can be eating while others are showering and vice versa. You have, effectively, 3 bathing options (2 showers and a bath tub), a good amount of space for the kids to spread out in (2 queen beds, a queen sleep sofa + a king in the master BR). There are folks who are very resourceful and use the couch cushions as another sleeping surface for a smaller child, so each of your children could have their own bed with the 2 y/o in a P&P. If you are driving, you could even throw the blow up mattress or a sleeping bag into the car...there is certainly enough floor space in OKW to accomodate it.
The biggest issue may be cost, but what you might save in food could offset that a bit.