We stayed in a value studio and loved it. We are a family of three with a now 6 year old so we don't need a ton of space. The value studio is a great use of points, we only have 100 per year so we try to make the most of our points to stretch it as far as possible.
We were lucky to get a savannah view and I have to say it was a much better view than the savannah studio we had the year before.
The other great thing about the value rooms is that is is really close to the front of the resort, near the pool and the quick service. Some of the regular rooms are REALLY far from the entrance, we felt like we were walking forever to get to our room - so for our family we would actually prefer the value location - regardless of the points.
Finally, I know the room size is a bit smaller but we didn't really notice any significant difference. The only thing is that when you have the pull out sofa open it is a bit tight on space to maneuver - so many pillows!