That's a pretty good deal for the one bedroom suite. I am a DVC member at the BW and can tell you that you will be spoiled by the extra room and amenities. If you do have the one bedroom and not the studio, you will have a full kitchen with microwave, stove, dishwasher, and full size fridge. You will also have dishes, silverware, pots and pans, toaster and coffee maker. The one bedroom comes with a king size bed and a pull-out queen sleeper sofa in the living room. The sleeper is big enough for two adults so your children will be fine. The bathroom is actually two separate rooms. The first has your shower, toilet and a sink. The second room has a jacuzzi, another vanity area, and a large walk-in closet. The best part of all (to me at least), is that the unit comes with an apartment size washer and dryer. There are two TV's, one in the bedroom and one in the living room, and a DVD player in the living room. Since you are not a DVC member, you will get daily housekeeping services (DVC members get them on a limited basis).
The only way that you may get a better deal is to rent points from a DVC member. You can find info on that on the DVC forum on these boards.