I have stayed once at LMBB (high point requirement for award nights at this property and even much more at the St Regis) and many times at the Thalasso, mostly on points, and was very well treated every time. Over the years, the IC points requirement for award nights increased substantially and the rates of the BOGO nights have also gone up.
I prefer the Thalasso and would not even think about splitting nights with the Moana, but I have heard from several people that some guests prefer the more outdated Moana (very nice large public beach on the other side of the property and freedom to go outside to walk around, to go shopping at grocery stores, to go to restaurants without having to take the shuttle).