That's the reason we ended up HK too - price plus huge travel time from Perth. HK Disney was very cool, and HK itself has lots of good stuff for kids too and its really easy to get around on public transport. Take the kids to Ocean Park while you're there too. Its a combination thing of theme park, aquarium, pandas etc.

FWIW, we stayed at the Disney Hollywood Hotel. They had a great playground and pool area for kids, its very new (opened only November last year I think) and its quite a bit cheaper than the Disney Hotel. Its also the "themed" hotel, whereas the Disney Hotel is gorgeous but very sort of English colonial style and we figured if we were going to stay in one, we might as well stay in one where Mickey told us what floor we were on! We had booked a standard park view room and were offered a free upgrade to a seaview room. They're exactly the same size, so we stayed in the park view - got a brilliant view of the fireworks from our hotel room the first night when the girls were just too shattered to stay at the park for them.