We stayed at this resort during spring break in April a few years ago and had a good time. There are many, many TUG reviews for Whispering Woods and Whispering Woods II that give lots of information about activities in the area.
We especially enjoyed a drive over to Warm Springs Indian Reservation for totally different scenery, the lovely Timberline Lodge on Mt. Hood, and taking the light rail train into Portland from Gresham, I think. The golf course onsite was fun and inexpensive.
The resort itself is rather quiet, but there are enough interesting things nearby for a relaxing and fun visit.
Edit to add: I forgot to address your request for the best location. I don't believe there is a preferred location--they all seem fine.