Ray,
Boy, what great ages to have the kids at Walt Disney World! First off, they are all pretty great, so wherever you end up, you are going to enjoy it. Let's look at some of the pros of each;
Caribbean Beach: Pirate theme rooms (extra charge) and a newly renovated pirate themed pool are great pluses. If your kids are aspiring buccaneers this is the obvious choice.
Coronado Springs: This convention hotel has some newly renovated rooms that offer more business-hotel luxury than you find at most Disney World hotels.
Port Orleans: This resort has two distinct themes (
Riverside and
French Quarter), and probably the best resort grounds for general exploration and discovery. The boat access to Downtown Disney can be a big plus, especially with kids your age that can stay up a bit later than a toddler.
Cabins at Fort Wilderness: Often overlooked, this let's you enjoy the outdoors and keeps you close to the Magic Kingdom.
If you are still undecided I would suggest the resorts in this order;
Port Orleans Riverside, Port Orleans French Quarter, Caribbean Beach, Coronado Springs, Cabins.
Please feel free to ask me any follow-up questions!
Have a Magical Vacation!