Either side of the building has its pros and cons.
We were recently in a Theme Park view room on a high floor (10 or 11) not too far from the elevators on the CM side and got the Chef Mickey wake up call in the morning. The loudness of the sound was related to how excited the guests were

As well, we enjoyed the view and loved sitting outside, but found all the buses driving to the MK (& hotel) was annoying and ruined some of the enjoyment for us.
We'll be staying in a Bay Lake view room this time... while we enjoyed the MK view, well, we paid quite a premium for it, and honestly, did not think it worth it because of the noise from the buses. We can deal with CM, as the sound wasn't that loud, but to pay that much more money to listen to buses when outside just ain't gonna happen again