I've stayed in both. If there are only two people, the studio is the better room. You still have the queen bed for sleeping, but the room seems so much larger with a sofa instead of a second bed. The kitchenette is also very handy, and the refrigerator is larger in the studios than in WL.
If you have more than two people, I would go with WL. You get two queen beds, so no one is sleeping on a sofa bed.
The bathrooms in both are laid out very similar, so that's not really an issue. Also, both have balconies (except for one studio on the 4th floor - watch for that one), although I would have to give WL a slight advantage on view, especially if you book a main courtyard view. The bus stop is sort of between the two, so for the most part, there's not much difference in distance to transportation (it's not that long a walk around the back of WL from the villas to get the boat to MK). You have access to all the pools and recreational facilities when you stay at either one.
The main issue is convenience to the restaurants. If you are in WL, you just take an elevator down, and there you are. If you are in the villas, you do have to exit your building, walk over to the other building, and then to the far side of the lobby to access the restaurants. It might take an extra 10 minutes.
I would second the idea to request a studio close to either the elevators or close to the main lodge. There are some studios at the far end of the hall that overlook a service area. Not the best view around. For the most part, I have ended up on the 4th floor, about a third of the way down the long hall, and the walk hasn't been bad.