From those of us who stay at OKW all the time, I think it is difficult to imagine 2 studios instead of the 2 bedroom unit.
When are you going, and what is the make up of your group (adults, kids, families etc)? If you are two seperate families, two studios would probably work, but you would have so much more convenience if you did the 2 bedroom. As Pam said, there is a full kitchen, full laundry room and in room jacuzzi as well as a large living room and deck. We like to have an occational meal plus all breakfasts in the villa, so you can look at that as a savings as well. Just be sure you know what you want at the grocery store before you arrive. The studios will not be connecting, and may not be in the same building. At least with the 2 bedroom, you will all be easy access, and still have plenty of privacy.
The studios at OKW are 390 Sq. Ft, while the 2 bedroom is 1410 Sq. Ft. Quite a difference!
Are you planning to rent points from a member or direct from Disney? If you rent from a member, the cost is around $10 per point, depending on time of year etc. The number of points needed also is dependant on time of year. For example:
a studio at the end of August for one week would be 98 points ($980) or $1960. A two bedroom that same time would be 263 points a week, or $2630. That is $670 extra for 630 extra sq. ft, and the convenience and cost savings of the kitchen and in room laundry, plus being nearby for touring convenience. It would cost you far more to rent two rooms with that much convenience from Disney. The only thing that would come close is a FW cabin, and that is a trailer without full size bedrooms etc. I dare say you would not come close to anything else on-site for that price for a week. Bear in mind that other times of the year are far less points than my example.