I absolutely LOVE the CBR, though I've never stayed at the WL. The CBR has a food court that is second to none, and when it comes to kids (at least when I was a kid and from what I've noticed with my little cousins) I've noticed that they tend to prefer food courts. Kids don't get as excited about "dining out" unless characters are involved, and food courts give them an easily viewable selection that lets you guys eat quick and get to the parks to do the reallllllly fun stuff! That being said I'm not a restaurant type of person, but no matter where we stay we always wind up back at the CBR's food court b/c its such a nice atmosphere and quick.
The CBR's pools are great too. Their main one is a bit busy but they always have the smaller ones that are spread out around the resort, and those (whenver I've gone in peak seasons) are hardly every busy. Thats just something I've noticed and it wouldn't be guaranteed it would happen on your tip though.
Other pluses to CBR, the boat rentals and bicycle rentals! How fun is that!? I don't know if the WL has those, they might, but the CBR is spread out enough to make a bicycle ride great! The views are simply fabulous!
Theres always the $ issue as well. You'll save a lot more than $400 at the CBR. The reason is that the food court there is cheaper to eat at than the dine in restaurants at the WL. I've noticed that even though I abhor restaurants, whenever we stay at a deluxe we eat in their restaurants more, and that costs more.
One word to sum up CBR is FUN! What kid wouldn't want to chase little lizards around the paths outside or crash in one of the hammocks by the beach?
And as for the resort being spread out, it's not that bad. Of course I come from a rather active family, but my 81 year old grandmother came with us to the All Stars 3 years back and we stayed in the back building and she didn't mind the walk at all, and when she was in her late 60s we were at the CBR as FAR away as you could get from the food court, and the walk wasn't bad at all for her. I think Disney purposely does not spread their resorts out too much knowing that not everyone wants to walk too far.
However, every trip we've gone on that I've been on since I've had my drivers lisence, we've ALWAYS had a car, and 90% of the time at the CBR we have chosen to walk (even when the farthest from the food court) rather than drive around the resort simply b/c of the fantastic scenery! But if your kids are little (I apologize I forgot their ages already) then by staying at the CBR you could have that extra $400 for a rental car, and would not be subject to Disney transportation. (I'm not a big fan of their bus services but have done it. I just liek the freedom to go whenever I want wherever I want without having to think about if I'm at the right stop.) So those are some other things to take into consideration.
Basically it's a matter of what you decide is best. Those are just some of the pros of the CBR. The WL sounds equally as lovely however so best of luck with your decision! We had a hard time deciding for our honeymoon b/w CBR and the AKL, and my husband finally chose the AKL b/c hes an animal nut.

Of course the next trip we go on will find us at the CBR.
Good luck! And if you have any questions about the CBR, like detailed ones, general ones, etc. Feel free to PM me on here and ask away, I've been to the CBR quite a bit so have a lot of it memorized by now. lol