We've been to the resort 10 times and have stayed in just about all the buildings - and have enjoyed the views each time. There's really no right answer - it kind of depends upon what you like.
The units in what used to be the hotel building (a longer two story building) are actually right on the beach, with a very small sitting area that looks at the beach. The A building is also along the beach, and is taller and has larger balconies. It's very convenient if you want to go to Divi beach every day. (We like to visit lots of different beaches and do Divi beach only 1-2 times in a week.) The downside is you have much less privacy because because the sidewalk goes right by, so people can look into your unit and outside sitting area. There are also some units in the casitas, which are low, one story buildings set up behind one of the pools - very private, and with a view over the grounds to the water but they feel a bit more removed from the water.
Otherwise, the majority of the buildings stretch along both sides of the penninsula and have views either into Great Bay or Little Bay. Each building has maybe 6-8 units, and are arranged so you have some privacy when sitting outside. One note - there are two buildings set up on top of the hill - the furthest walk from from the parking area and uphill. They are quite private and have nice views, but can be an issue if you don't like the walk, although they do run a golf cart shuttle service much of the time. Some people love being up on the hill; it's OK for me, but I prefer something a bit closer in.
Great Bay has lots of activity to watch, with cruise ships, the view of Philipsburg (pretty at night), and other boat activity. Little Bay is much quieter, with almost no traffic except perhaps a few jet skis from the resorts. Depending upon where the Little Bay unit is, you can look down onto the pool and beach area or out into the ocean. You do get a sunset view from there (although the best place to watch the sunset is from the infinity pool and that's open to anyone). There are a few units on the Little Bay side that look down into a small landscaped fountain area and have an ocean view only looking to the side.
As I said, we've enjoyed the view from every unit we've stayed in. Our favorite? I guess I'd say the Great Bay side, simply because we enjoy having morning coffee and our lunch watching the changing activity in the bay...admiring the America's Cup racers, checking out what cruise ships are in, watching the cruise ship jet skiers (far enough away that they aren't noisy), seeing a small commercial ship, etc.
