Congrats on the engagement. I'm probably going to be joining the "Engaged at Disney Club" in October... but shhhhh I don't think she has a clue about it yet.
Anyway, as far as a honeymoon at DL, though I have not been there, I have done a lot of research on it and I personally don't think it could stand to be the only part of the honeymoon. It is a lot smaller than WDW and while you can spend 10+ days at WDW, from what I have read on other forums, a first timer at DL could get bored of it after about 4 or 5 days. On the other hand, if you were to pair DL with, say, a cruise out of LA (Disney or otherwise), then I think you might be in business.
When pricing out a DL trip, don't convince yourself to only staying on-site, there are a lot of "good neighbor" hotels that are within walking distance to the parks that could save you a good bit of money. I've been waiting for our upcoming trip for so long (we booked it Jan. 3rd of this year) that I started looking into DL for a short trip. But after realizing I still have to buy a ring, we couldn't add in the extra trip.