I agree that President's Day is the issue - we ran into the same thing last year, but ended up
loving Cabana Bay! I really like retro-themed stuff, and having the new Volcano Bay water park
right there was key to my family's good impression! (Of course, I know we got lucky with the weather in February.

)
We stayed in a suite, and just bought our Express Passes as an add-on. We had plenty of space, and liked the room set-up. (The toilet and shower were behind separate doors, so it made getting ready in the morning that much easier.)
The thing you'll have to get used to coming off the premium resorts is not being able to walk quickly to the parks. (There
is a longer path, but we didn't try it.) We took the shuttle bus, which means you go through security at Citywalk, as if you were a local parking in the garage.
I believe you can also walk across to Sapphire Falls and take the boat, but we didn't happen to try it. Also, while I've stayed at both Royal Pacific and Hard Rock, I've never stayed Club Level at either, so I don't know what I'm missing there.