Just saw your question.... A preferred room is no different inside than a standard room -- preferred refers to the location of the room (closer to the food court and main pool) but the rooms are the same as a standard room.
The view of a preferred room is no different than the view of a standard room. It could be a courtyard, it could be foliage, or it could even be of a quiet pool or the lake.
A water view room guarantees that you will have a view of a quiet pool or the lake -- but it could be either one.
I hope that helps!