I've never been able to justify the cost (or not being able to cancel a point rental) but being able to walk anywhere is invaluable with toddlers. At almost 3, the nap situation is fluid, but my kids have typically napped at Disney, even after they stop napping at home. But, they've very rarely transferred well. So if they fall asleep in the stroller, then they'll wake up when we try to transition to the bus. If they fall asleep on the bus, they won't still be asleep by the time we get to the room. So, anything that allows you to keep your child in a stroller will probably be more valuable to you than space in the room.
I've always shared a room with my kids while at Disney though. Sometimes we'll put them in a bathroom. I'm also not prone to watching TV in general. I'm more likely to read or browse on my computer. DH is pretty much always passed out before the kids are....