Hi, Donna Marie!
I completely understand your hesitance at splurging on a 1 bedroom Disney Vacation Club Villa; however, if you have the points to spend at
Bay Lake Tower at Disney's Contemporary Resort, I say go for it!
The location of this beautiful resort is fantastic; you're right next door to Magic Kingdom and you're along the monorail line, meaning that travel to not only MK and Epcot but also the other monorail-accessible resorts (dining!) is ultra-convenient. Moreover, that 1-bedroom at BL is just gorgeous, especially with the full bath in the living area. The ease of having that space and second bathroom while at Kidani Village is exactly what you'll find at Bay Lake Tower. We love it.
The next choice you'll have to make, though, is which type of villa to choose. If you select a lake view, you'll see some of the most beautiful, peaceful sunrises on property. A Theme Park View, however, will give you a private vantage point from which you can watch Wishes (the soundtrack of this spectacular show comes right into your room via your TV) On a night when you've decided to dine at a resort or even Downtown Disney, it's great to have the option of being able to see this great display from the comfort of "home."
If you do stay at BL, be sure to head up to the Top of the World Lounge for a breathtaking view of the area; try to do so an hour or two prior to Wishes, too; order an appetizer and some drinks for everyone, relax and enjoy the upcoming show either from the outdoor viewing area or even from your cozy seat indoors. Lovely.
Send more questions as you think of them, Donna Marie! I'd love to help!