Heigh-Ho Ben!
First, can I tell you how much I love adult trips to Walt Disney World? I love them a lot! Now to answer your question, if I take privacy and budget into account, then I would recommend 2 rooms at a Moderate Hotel. You can always request connecting rooms, but it is not guaranteed. So if you have to be connecting, then I would suggest a villa.
My favorite Moderate Hotel is
Disney's Port Orleans Resort-French Quarter. I love it because it is small, feels quaint, has lots of charm, and is a boat ride away to Downtown Disney. Did I mention they have beignets? I eat them for breakfast, lunch, and dinner. The Wilderness Lodge is beautiful, is closer to the Magic Kingdom, and offers more restaurants, but for the money saved, that will pay for some dinners and extra activities.
A 1 or 2-bedroom villa will be more expensive, but you do also add a full kitchen (can be a money saver if you eat some meals in your villa, especially breakfast). You will also have a washer and dryer in your villa, which to me, is wonderful. Some people do not like doing laundry on vacation, but it means I can pack less. One of my favorite Deluxe Villas, that is a little more budget-friendly than The Villas at Disney's Wilderness Lodge, is Disney's Animal Kingdom Villas-Jambo House. I love the decor, the fabulous restaurants, and the lobby rivals the breathtaking factor of the lobby at Disney's Wilderness Lodge.
I hope this helps you with your decision! Have a magical, fantastical vacation and if you have any other questions, please ask away!
Tania