In November we did 5 resorts in 6 nights with 9 people including littles. Bell services handled everything very efficiently and not a bag was misplaced.
One thing I haven't seen mentioned is that they can handle any refrigerated items you may have as well - just be sure to have it packed up and ready and let them know.
We mixed it up between taking the luggage with us during check out and having bell services come get them, no issues with that either.
The main reason we did so many splits was to not only try different resorts but to utilize any transportation other than buses. 5 kids under the age of 7 at the end of a long park day and the last thing we all want is to wait 15 minutes for a bus. We were able to get BLT for MK days, BC and BW for Epcot and HS days then AKL at the end.
One regret we had - in order to save money on our flights we did two large checked suitcases and 7 backpacks... we won't be doing that again... We'll focus on minimizing the total number of bags.
Keep in mind what others have mentioned, during the day you won't have a place to go if you need to nap or change. For our swim days we took the gear with us to the parks and used the shower areas of the pools to change.
One potential benefit is if you will be using the dining plan. With these being separate reservations you will have the option to buy for some days and not for others. There is a strategy to buy the deluxe plan and stretch it 2 or even 3 days to save some money, but we haven't attempted this yet.
Oh and the mugs... if you book the dining plan for your entire stay you will have the option to get refillable mugs at every resort. We literally could have walked out of there with 48 mugs! We only used about a dozen but I do regret not grabbing a few of the Christmas mugs for office gifts

It really did make the trip seem longer and everyone had a blast. Good luck if you go through with it and enjoy!