Yeah, it totally is. I get it with my annual passes after 4pm. I pretty much refuse to go down there without it. That's why I was saying Royal Pacific is a good deal. Room rates are high, but free Express totally makes it worth it.
The place I mentioned isn't really a Korean bbq joint, more of a rooftop bar that happens to have some good apps. Good place to have a few drinks and take in the view. Nice chill spot after a long day at the parks. You are cool with kids there, it's pretty low key. It's on the top floor of the Aventura hotel which is like 1-2 miles from where you are. It's over in the cluster of hotels where Sapphire Falls is, Cabana Bay across the street. Not sure if you can take the water taxi that direction to Sapphire and walk over, I think that's a one directional shot to City Walk. I'd ask the concierge for the best way to get over there. Name of the place is Bar Bistro 17.
Edit - important note, they don't open until 4pm. Best to go at night anyway for the view.
Favorite thing at Studios for you and the kids?