If you request Peninsular Road, you will be in buildings 23, 24, 25, or 26. They are much closer to HH than Old Turtle Pond. If you don't request Peninsular, you could also be in buildings 11, 12, 13 or 14, which are all right behind and just a few steps from HH.
Like everything Disney, there can be endless opinions as to which is nicer to stay at, HH or Old Turtle Pond. Personally, I always request Peninsular Road to be near HH. But the pool at Old Turtle Pond is beautiful, it is a much quieter area, and it is much less congested.