Hi KOOK! Stopping by to agree with CR Fan. I had the same concerns as you do regarding BWI before we stayed there last year. In August, we were in the room right above Flying Fish with the huge balcony. The entertainers were right outside our room and we overlooked the boat docks.
I loved this room - I think it might be my favorite at WDW so far, and I spent as much time out on that balcony as I could. (Our boys did a little sword fighting there, too - it was huge!) The close proximity to the water was wonderful - it's like a water view "plus" because it's so close. The Boardwalk was so quiet and peaceful in the morning - really peaceful. We spent a lot of time at the resort during that stay because we enjoyed the room and the lounge so much. And in the early evening, the entertainment was lively and fun, but not bothersome in the least. Later in the evening, my husband and I sat out on our balcony and it was very pleasant - not noisy at all. Also, since the lounge faces towards Epcot, we could watch Illuminations from the lounge balcony and the MK fireworks from our room balcony. We stayed at BWI pre-cruise, and it was really hard to leave BWI because we loved it so much!
I'm going to have a very tough time booking for next year - go deluxe to guarantee a boardwalk view, or go standard and try to request our spectacular room from 2011.
I've posted photos of this room/view/balcony before, so I'm sure everyone is tired of them - but let me know if more would be helpful!