Would 2 rooms at a mod be cheaper than suite at AoA?
Probably not, plus a suite at AoA has more "social" areas with 5 adults, it will be nice to have hangout space, rather than sitting on beds. With Deluxe Dining, are you planning on meals at Disney Springs? Staying at a resort with a boat to DS is really convenient, so POR could be a nice option but a little more expensive.
A cabin would be cheaper and would fit all of you with a discount. Depending on discounts available, a 1 BR at OKW or Saratoga could be comparable too and also has the boat to Disney Springs.
We had the regular Dining Plan on our last trip, it was free lol. We couldn't eat that many meals a day and it was only 2 plus snacks. We literally traded in 12 meal entitlements for snack credits. You will potentially be spending more time per day at meals vs. theme parks. But if that's what you like, then enjoy!
Maybe you could cut back on theme park tickets to save a little. If you have hoppers, you may find you don't have enough park time to justify them, other than hopping to Epcot for meals I guess.
Anyway here's my "analysis":
1. Discounts last year were 15% for Value, 20% for mods, 25% for deluxe and deluxe villas. Look at your dates and price a room only for your dates. Take off the discount amount to get a rough idea of your room cost for each option.
2. Annual pass discounts last year were higher, 25%, 30%, 35% so even better deal IF you can find availability, a 1BR at a DVC property would probably cost around the same as what you're paying now for a AoA suite.
Examples: Rack Discount AP
AoA $427 $363 $341
POR (2rms) $688 $550 $516
Cabin $431 $345 $323
OKW (1BR) $607 $455 $394
BW (studio) $573 $430 $372
The Boardwalk studio says sleeps five adults - it's a wonderful place to stay to have access to Epcot restaurants, plus Yacht/Beach Club and Boardwalk restaurants.
3. Dining and ticket prices are the same no matter where you stay.
So, I would suggest booking a discount room when March Discounts come out and then keep an eye on here for AP discount release. We are doing the same. If we can get a good AP discount, we will buy ONE AP. With that one AP we can get:
a. Free Memory Maker
b. Restaurant discounts
c. Shopping discount
Anyway, I had time at work so I mused on this for you lol. It does get confusing but hopefully I gave you a little insight as to how many options you really have. Think about what you're going to be doing every day then decide what resort gives you the best option for comfort, close to your activities and parks you plan to visit most, and if you need "space". Honestly, the AoA suites look cramped to me, I would always choose the All-Star Music suite over AoA for room itself. It has a huge living room, vs. the smaller living and dining rooms. Two full closets vs. the little locker area, and a separate kitchenette vs. having it in the living room too.
Have a great trip. We'll be there 13-20 so who knows, maybe we'll run in to each other!