When you make your reservation, request a Magic Kingdom View. They can't guarantee them but you can definitely request it.
The other view is of Bay Lake, and I hear you can see Illuminations from the room.
I am staying there the last three nights of our trip and I am HOPING that I get a MK View. The CM told me straight out that I would, but I don't believe he knew what he was talking about because I've been told before you can only request it.