Seems logical to me. Most people on the Orlando Hotels subforum stay offsite, at least part of the time.
waltslostnephew,
Are you wanting to hit the Universal Parks, the Disney parks, or both? And how many are you traveling with?
There are tons of options near the Disney parks; I don't know of as many near Universal but one we've stayed in is Orlando Sunshine, which is back by the Fun Spot on the other side of I-4. The Sunshine is not a large resort with tons of stuff to do, but there's a pool and tennis court and whatnot, and they just finished a refurbishment last year, so all the units should be pretty nice.

Those are condos, though, all 2 BR units -- often a good deal if you're traveling with five or more, but there are better deals if you've got a smaller party.
Also, when are you going? The Universal "fastpass" system isn't free, but comes with the onsite rooms, so can make staying onsite a better deal some times of the year.