I haven't stayed on points at PPH (so if relative value is an issue for this decision, I can't speak to that), but I've stayed there 3 times now, and the more I think about the various hotels, the more I realize it's really my favorite. Big rooms, pullout couch, sunscreen smell pumped in, big Goofy with the surfboard, really good dining at PCH Grill (I mean, not gourmet, but it's a good menu in our opinion, and if you can't finish your adult beverage, they'll let you take it up to your room), upbeat happy interior...
We stayed at DLH on points, but that was when you could book concierge with the points so it was a much better value. I was happy to be there, it made me smile, but...I just didn't get as into it as I thought I would. The grounds are pretty, but available to anyone just walking through (so it might not be fair of me to include PCH Grill as a reason to like PPH, but it was the *taking an unfinished drink back to the room* thing that got me).
And unless you plan to take the monorail into and from Tomorrowland every single day, in my experience, the walk from PPH to the parks and back is shorter than to/from DLH, IF you take the disboards shortcut and ignore the signage in the hotel itself.
