Hi Stacee:
The Animal Kingdom Lodge is one of my family's favorite Disney Resorts (my boys are 8 and 7), and we will be staying there on our upcoming trip. You will find a variety of activities to keep your family entertained. In fact, depending on the length of your vacation, I would consider scheduling a day to explore the resort.
While I don't know your exact budget, my general position is that the savanna view is worth it. My kids and I love being able to see animals only a few feet away from our balcony. There are several savannas spread out along both Animal Kingdom Lodge properties, Jambo House and Kidani Village. When you check in, ask for copies of the Wildlife Field Guide, enough for each party member. The field guide is a fun way to learn about the resort's animals. The guide will provide not only a listing of the animals roaming the resort's savannas, but will also provide animal identification pointers, behavioral tips, and check boxes to record any animals you spot. Think of it as a great big Disney scavenger hunt around the resort.
Although the animals may be subject to change, our family spotted the following animals from our balcony: Ankole Cattle (look for one walking a bit lopsided, as if one horn is heavier than the other horn), Zebra, Okapi, Roan Antelope, Greater Kudu, Impala, Nyala, Giraffe, and ostriches.
If you don't opt for a savanna view, you can still see animals on the savanna from strategically placed windows located throughout the Resort. If your trip is short, or if you really need to stick to a tighter budget, then the savanna view may not be the best choice. However, if you can dedicate some time on a morning or early evening or two to watch the animals with your family, I highly recommend the savanna view.
Enjoy your vacation.