First of all, in order to give any real suggestions it would be useful to have a little more information about who is going and what your plans will look like.
Meanwhile, I'm not really sure what you are asking? Are you considering staying in a particular deluxe resort? Or comparing value, moderate and deluxe resorts in general? I would not consider booking deluxe for extra evening hours alone, (especially that you have to pay for )- I'm not sure that you have to stay deluxe in order to pay for and attend evening hours events. I believe that when you stay deluxe, there may be some evenings when you have free extra evening hours, but with a four night stay, you may not have that opportunity during your visit. Also, with your trip planned for Feb, you may need to look at resort availability and prices. (This may be a bit late for booking, IMO.) Then, with a budget in place you will have a better idea of where you may want to stay.
FWIW:
In general, we usually stay in deluxe resorts these days. However, for many years we have stayed in both value and moderate resorts and enjoyed our stays in all the WDW resort categories. We now stay in deluxe because we enjoy having a balcony on our room, we are older and prefer the additional space and comfort and we like to dine in restaurants rather than food courts. In your situation things may be quite different.
A lot will depend upon your party composition and upon the reasons for your trip. Do you have small children? Then a value resort is often a great fit. Will you spend every day from open to close in the theme parks? Again, value or moderate resorts would be a smart choice. However, if you are looking for a quiet relaxed pace, spending time at the resort and relaxing, then the deluxe resort may be worth the additional fit. There are a lot of factors to consider.
I hope that you have a wonderful visit! Feb is my favourite month to visit WDW.