OKW was the first DVC resort...and as such Disney did things that they have both improved on, and diminished with the newer resorts...
The plusses - the rooms are ginormous. A one bedroom has a very spacious master bedroom (with great jacuzzi tub!) plus the living room/kitchen combo is like a small apartment. With the four adults and baby, you will have plenty of room. The tv is tucked in the small island that seperates the kitchen from the LR. There is a full size couch (this pulls out to comfy bed), a love seat and a small chair. To the side there is a full size table. The balcony and table is large enough for all 4 adults to sit comfortably.
Adding a crib to the room will not make the room seem small - it will fit with ease.
If you are planning on bringing in groceries for your stay, another benefit is that OKW has the most cabinet space so you can organize your groceries easily and not wonder where to keep them.
Depending on where your room is, you can have a great water view of the canals or the golf course....
Olivia's - the main restaurant - is excellent....
The boatride between OKW and Saratoga and Downtown Disney is a nice, enjoyable ride....
The negatives - the resort is sprawling and depending on where your room is located it can be a pretty far trek to the hospitality house/main pool. (of course you can take the bus, but that tends to be a negative too).
Where the other DVCs have a pretty expansive quick serve food choices, OKW is very limited. For breakfast, your choice is eggs or eggs. The food is good, but definitely not a food court like over at AKL, SS....
The main pool has been upgraded with a slide, but it more closely resembles a quiet pool from some of the other resorts.
Along with SS, OKW is pretty far from MK, AK and Epcot. You will need a bus for everything other than Downtown Disney. You will need to build in travel time for all your trips to the park and depending on where you are in the resort, the bus can be a pain.
All that being said, I love OKW. It is very relaxing, and the theming is excellent. I would stay there again in an instant without hesitation. Some considerations for you are how comfortable your group is with possibly walking a long way to the hospitality house...how much you will be spending at the resort and how important the pool area would be to you...
(If you want to see pics of the room, drop me a private message and I can email them to you.)