We did the concierge level at the Grand Californian last year (had DVC points that were ready to expire) so we decided to try it.
There was a room at the top level with drinks, finger foods, desserts, and a cool place to watch the fireworks.
The room was the same and would never spend the extra money. Not worth it for sure.
I even thought “Hey, I’ll ask the concierge if they can get us some vip seats for the parade, or for Alladin, or something like that.” They didn’t have anything special at all.
When you go to a five star hotel, that guy (or girl) is your best friend, but I didn’t get much help from the CM’s there.