Hi Joanne - I am going through the same thing right now.. My DH and I stayed at the Swan in 12/03 and the AKL in 12/02. We are planning for 12/04 and we can't decide if we should go back to the AKL or go with the Swan or Dolphin again. I hate the thought of a split stay so need to choose soon because we think we are going to arrive 12/31 instead of mid Dec as earlier planned. Here are our thoughts on both for your consideration -
AKL +'s - Quiet, watching animals from your balcony, beautiful resort, immersed in that Disney feeling, decent bus service, valet parking good for all of the other Disney resorts, balcony.
AKL -'s It poured several of the days that we were there in 12/02 and we ate at the resort several nights instead of Epcot as we planned. We quickly grew tired of the limited food selections. Once for Boma's or Jiko's for dinner was enough and wished we had other food selections, fairly far away from all of the parks except AK, next to impossible to get a king size bed.
Swan +'s - boat to MGM, Epcot & Boardwalk can't be beat. Wide dining choices that are very convenient both in the S & D as well as Epcot & Boardwalk. HEAVENLY beds (we have a water bed at home & my back has hurt every trip to Disney until I stayed at the Swan). Wonderful, pleasant, helpful, nice (and any other good adjective you can think of) are the only words that I have to describe the staff at the Swan - everyone in valet, bell services, check in, concierge desk & housekeeping were extra nice, king size bed guaranteed, nice view of Epcot (paid for a standard view).
Swan -'s - No Mickey wake up call, no Disney park channel telling you what is going on while you are there (I assume they still have that at Disney owned resorts), can't use your room key to charge in parks, hotel is nice (room beautiful, etc) but not themed in any way whatsoever), no Mickey soaps, no balcony in majority of the rooms, valet much more expensive ($14 a night I think vs 6 for Disney resorts & valet good only at Swan & Dolphin).
This has helped us make our decision - You cannot beat the Swan & Dolphin for the price. If I didn't mind spending an extra $150 a night, we would probably go with the Yacht Club because we like those little Disney touches such as waking up to Mickey's voice. But the 'missing Disney magic' is not worth a $150 a night to me. Although I LOVE the AKL, we decided that we prefer the convenience of location of the Swan & Dolphin. We are probably going to stay at the Swan or Dolphin again this year. That being said. If you have never stayed at the AKL and you love the thought of seeing animals from your balcony and you are going to take the down time to hang out at the resort and just relax, you can not go wrong the the AKL. If I had not spent a week there, the AKL would by my choice. When we visited the AKL in 12/03, a little part of me wished that we were back there instead of at the Swan. GEE..... now that I remember the smells & beauty of the AKL, my DH and I will have to continue to discuss AKL vs Swan/Dolphin for 12/04

Hope this helped a little bit. Seriously, if you have any specific questions about either resort just ask me. Since we stayed at both places, I would be glad to answer any questions you have about either.