I have stayed at both the MVCI property (as referenced above) and the full service Marriott. I recommend the FS property. While the hotel is nothing special by Marriott standards, it is much closer to the historic district. The property has the amenities you would expect with a full service Marriott with the exception of a c-lounge. I found the staff to be particularly helpful -they appeared unaccustomed to seeing elite MR folks and treated me very well. The MVCI property is several miles from Colonial Williamburg and there are no on site evening food options. There is also a CY located very close to the historic distric which appears fairly new.
Williamsburg is a great place to visit, enjoy.