It is nice to sit on your balcony/patio for the fireworks or EWP, but we think it's even nicer to do this from the concierge lounge and share the excitement with the other guests. It's almost like being in the park but without the crowds and the mass exodus! We did this with our 5 yr. old niece for Wishes (she likes the pretty colors of fireworks, but not the "louds") and she loved it. She was in her jammies, so we just headed back to the room afterwards & she went right to bed.
Like k&a&c'smom, we find the concierge service priceless for the added convenience, so if there's a cost issue, keep concierge & stay garden view. All that said, we are doing lagoon view this week after a long string of garden view stays, just because we haven't done it in a while, and watching the castle change colors from your room while you're relaxing in your pj's is pretty cool!