I do not recommend a water view at ANY moderate. Because the entries are through outdoor corridors, almost every window looks out over the coridor. Worse yet, water view could be a pool, a fountain, or a tiny glimpse of the lake through trees. The only benefit of booking it is to ensure you're facing the interior of the resort and prevents facing the parking lots.
I have no idea if this is true (although, I've stayed in a king room at POR, POFQ and CSR), but king rooms generally face the interior of the resort. If it's an adult only vacation, it might be worth it to spend the monsy there.
I've never stayed at CBR, but I do really love CSR and find the aura very peaceful and romantic at night. I love strolling around the lake

We stayed in the Cabanas the last trip (9B) and it was perfectly located near El Centro. We don't use the pool, so that wasn't an issue but it seemed like a short walk.
I've also stayed at Casitas building 5. It was really close to a bus stop, and reasonably close to El Centro, but seemed to be quite far from the main pool.