...and I also live about an hour west of Sandusky, which is where Cedar Point is located.
Three children, current ages DD17, DS14 and DS8.
Where we have stayed and nutshell reviews.
Great Bear Lodge--very nice accomodations (none of these places are the Four Seasons, mind you), clean and nice size. Waterpark more for littler kids.
Kalahari--great for teens as there is an indoor and an outdoor park. Waterpark for all ages, great water attractions (DO NOT wear a bikini in the flow rider), great accomodations. Check into renting a condo from an owner. This is our favorite by far.
Castaway Bay--they may have improved it, but ugh!when I stayed there. The waterpark was fine/okay--the wavepool was the only really "good" attraction. Rooms awful.
Hotel Breakers--Much better for us when visiting Cedar Point (we go to the waterparks in winter) because the indoor waterparks are their own entertainment and we go to Cedar Point for the kids to ride rollercoasters. Early entry is nice, plus the proximity--several day pass, spend the afternoon at the outdoor waterpark, etc. Make sure to stay in the new section.
Depending on how many days you're planning, it'd be nice to combine 2-3 days at Cedar Point with 1-2 days at a water park--or more. Part depends on how far you're travelling, I suppose--are the Wings the Redwings?
PM if I can help--