I think you need to figure out what types of things you WANT and see which level meets your needs.
When we first started going to Disney (for more than one day), we stayed at moderates because we could afford to. They have outside walkways, a sit down restaurant and pool slides. On both of our stays at POR and CSR we NEVER ate at the sit down restaurant OR used the slides. I tried to get my girls to use the slide at CSR since it was so cool, but all they wanted to do was play in the quiet pool where they could be pretty much alone in the pool without lots of other people.
The last time we went to Disney, we decided to stay at POP since it was new and the theme looked fun to us. POP has outside walkways, NO sit down restaurant and NO pool slides. Our stay was exactly the same as at the moderates. We didn't find it to be any more crowded than at the moderates. Plus the food court was great (although I liked the food court at CSR a lot too.)
So, to us it makes no difference which we stay at (moderates or value) because we do not use all the amenities at the moderates that made them the upgrade. The price difference was negligible in our budget (we got POR/CSR for $79 per night and POP for $49 per night). But if that price difference meant one less character meal for you or no souvenirs or something, then I would have no trouble recommending the values (at least POP). If you think you WOULD eat at the sit down restaurant at the moderate or use the slides, then the price difference might be worth it.
We are picking our hotels based on theming right now. (At least between the moderates and values.) We have stayed at all the moderates and values now except CBR, so we may try that next. But I wouldn't be opposed to POP again if the kids wanted it. We had a great time there. (Excepting maybe Hurricane Charley, but that is not Disney's fault.)
We ususally are park commandos, but now that we've been to Disney a few times we are starting to slow down and enjoy the other things in the WORLD. Maybe after we stay at CBR we will try a deluxe so we can relax and enjoy the resort.
I hope this helps.
Maggie