We were at a VGF studio from 2/15-2/22. If you have a 'resort day' planned, the villas are right near the Beach Pool which has all the afternoon pool activities--pool party, games, etc. It has the water slide as well. We were never around for the campfire which was at 6PM in February, and only saw bits of a 7PM movie that started on the beach just past the pool bar. The Electric Water Parade comes by the Grand Floridian hotel boat area at 9:15PM...no where near the villas, but you'll hear it and DH saw parts of the parade when it was presenting for the Poly. You can also see part of the Wishes fireworks--try to get closer to the lake, maybe by the benches outside at the end of the villas.
Because we were staying at VGF we had booked 1900 Park Fare at the Grand FLoridian for both breakfast and dinner (2 different days), did the Lilo/Stitch/Mickey/Pluto breakfast at Ohana at the Poly, and did the Luau (Spirit of Aloha Show.) The walk to the Poly is easy, same with the walk to the monorail at the Grand Floridian. My newly 14 DD really loved the Grand Floridian hotel...loved that it looks expensive and loved how the place smells like perfume. (Not a boy thing...but interesting to hear from my oldest DD.) We went to both pools during the trip...it's really not much farther to walk to the 'courtyard pool'. The courtyard pool has a Ping Pong table at it which your boys might like. It also has a hot tub there. (And another pool bar...)
We took the 'resort boat' back to the Grand Floridian from the Magic Kingdom twice and that was enjoyable. We also walked to the Ticket and Transportation Station once when the monorail was having issues and it was an 'Epcot' day for us...quite a walk from the Grand Floridian...especially when you're going to Epcot and then planning to walk all over Downtown Disney that night...
Oh, and Gasparilla Grill, the quick service restaurant is far far away from the villas...only accessed from outside, on the far side of the main hotel building, in the back. There are basic supplies (milk, creamer, etc) at the Sandy Cove shop on the 1st floor of the Grand Floridian hotel...but no cut-up fruit or fresh pastries there.
We really did enjoy our stay though! DD9 loved sleeping in the 'tv' bed, it was much bigger than I was expecting...just don't sit up quickly. We loved the easy access to Magic Kingdom and taking a monorail to Epcot. We loved the view from our balcony. Standard view, studio room 1505 (5th floor)--parts of the beach, beach pool, fountain, roof of the walkway, and monorails. It was a good trip!