Hi, Jessica! I just returned (last week) from a WDW vacation where we stayed at the Animal Kingdom Lodge for the first time, and we were so pleased! The fabulous pool, the breath-taking lobby, the amazing activities, the unique dining and the
animals left us wanting more. My kids would wake up every morning, and instead of turning on the TV, they would open up the balcony doors to look at the animals.
With that rave review, do take into consideration that just the bus ride to the MK (not including the wait for the bus) took approximately 30 minutes, and we were there during a very busy season. You can certainly stay at another deluxe monorail resort (Grand Floridian, Polynesian or Contemporary) for a similar cost comparison, and be much closer to the Magic Kingdom -- which might be your park of choice with an almost three-year old.
However, the AKL does stand on its own in terms of the experience. So, it really comes down to how important location is to you versus having a unique experience like AKL. My favorite monorail resort is the Contemporary since it's only a walk away from the MK, and it's the first monorail stop on the way "home." It also houses two of my favorite dining experiences -- Chef Mickey's character meal and The California Grill for more sophisticated dining. As far as pools, my friends who are Polynesian fans say that the volcano pool is a far superior pool to the other two monorail resorts.
I hope this helps you plan! Let me know if you have more questions. Have a wonderful day and a most magical vacation!