"Magic" can come in many forms.
Agreed. The Contemporary is the most "Disney magical" for me, likely because I remember when it was being built, but also because the monorail goes right through it, which is So Cool!

It also has stunner views, you can walk to the MK, and see the MK from a lot of the rooms, watch the fireworks from there, see the water light parade, etc. And the public areas have amazing energy, as you say.
Wilderness Lodge is wonderful, that classic Disney mix of education and entertainment and terrific theming, with the lounge areas up above the lobby and the terrific patio in the back, and the views in that direction as well. The pool area is just beautiful, and the walk out to the boat dock so peaceful, as is the ride to the Contemporary or the MK (although probably not so peaceful coming back after Wishes, I would guess

).
The AKL has that mix of education and entertainment and terrific theming as well, but for me it loses points by being Just Too Dark.

I'm constantly frustrated because I can't see some of the stunner art there! OTOH, it has the lectures in the Sunset Room, and the animals, which gain most of those points right back.

But for me, between the fact that there are more Disney touches and the boat ride, Wilderness Lodge has a bit more Disney Magic than the AKL.
The Poly has Dole Whip, the volcano pool, the tiki statues, and Wyland Gallery. Not to mention the waterfall jungle in the lobby. I think it's pretty Disney magical; many of the Tiki statues are classically inauthentic Disney wimsy.
The Grand Floridian is definitely magical, for all the reasons already mentioned, plus there's the 1900 Park Faire, with the character breakfast and the Cinderella dinner. But, much as I hope to stay there someday, to me it isn't
Disney magical, so much. I know it's technically closer to the MK than the Poly, but somehow it
feels further.

For all that it has more iconic Disney characters (Cinderella versus Lilo and Stitch), it just doesn't feel as grounded in Disney to me. So, magical, but definitely not in the top five.
Not that I
have an official top five, but I'm pretty sure there are more than four between the Contemporary and the Grand Floridian anyhow.
I love the Yacht Club, but as with the Grand Floridian, I'd like to stay there but it doesn't feel as Disney to me somehow. That's
as Disney -- it does feel Disney, in that I walked my kids into the Yacht club and they loved it but also recognized it was Disney, then later that day we walked into the Swan and it was clearly
not Disney, it just doesn't feel as much Disney as some others somehow. More beautiful than whimsical and educational, maybe?
Of the resorts I have visited, I'd have to say the Beach Club is the least magical
and least Disney for me (although still more "Disney" than the Swan). I've only been there once, so maybe I was just tired or something, but it just seemed less beautiful than the Yacht Club, less whimsical than the Boardwalk, and, unlike the WL and AKL (which also have noisy lobbies), noisy without being exciting. Not sure that staying there and having the use of Stormalong Bay would balance that out much.
Boardwalk definitely has the Disney whimsy that the other two are missing, and the magicians and stuff on the boardwalk are pluses as well. The Yacht Club grounds as a whole might have a bit of an edge in terms of beauty, but the little "yards" with the picket fences at the Boardwalk Inn have more charm.

While the Yacht Club and the Beach club are only "mildly magical," I think the view of them from the Boardwalk is more magical than the view of the Boardwalk from the other side!

Plenty of magic at the boardwalk, IMHO.
The only two moderates I've seen are Port Orleans Riverside and French Quarter, and I'd put both of them ahead of the Epcot resorts and the GF in terms of Disney Magic. They both feel right out of a Disney movie from the fifties or sixties (even though the Disney icons are from movies much older

). At least in terms of
appearance, I like their pools better than I like Stormalong Bay -- more consistently themed, not nearly so "messy". Stormalong Bay has a waterpark feeling, and I think the chaotic layout adds to that, but I don't like waterparks except for the lazy rivers (which Stormalong Bay doesn't have, or at least not the aspects I prefer), so that doesn't help it any in my book.
I've been to Pop Century and All Star Movies, and they were both pretty Disney magical, with the emphasis on Disney.

Tie-dyed cheesecake feels like a Disney dessert to me, and Pop has so much energy it's fun-but-exhausting just to
visit.

I wouldn't want to stay there more than a night or so, because I am someone who likes to relax at the resort, and I would definitely request a quiet room first and foremost, but I can totally see why a lot of dawn-to-dark park tourers love Pop, because it does have a lot of over-the-top Disney magic, IMHO. Happy people, huge icons, lots of energy.
All Star Movies is much the same, with slightly lower energy than Pop and without the lake view. Still very Disney, though, from the movies by the pool to the icons to the cheerful and friendly employees. All two employes I saw while buzzing through there for a photo op once.
To echo bowbat, which resort has the most Disney magic depends on what kind of Disney magic you want! It's not so much "which is the best" but rather "which is the best
for this family's individual needs" -- and there's enough variety that every Disney resort is the most magical for someone.
