As I recall from when I owned there, Mauna Loa Village was originally built as condos, and went into timesharing after the fact. The complex has a residential quietness about it, as it was never intended to be a destination resort. It's an excellent base camp for exploring the island, or is a fine getaway for those who want to kick back with lots of peace and quiet. I enjoyed staying there. I think you will, too, as long you keep in mind the history of the place. If you want flashy activities and nightlife, this is not the place for you.
Best thing I liked about MLV was that it's at Keahou Bay, at the south end of Ali'i Drive, south of Kona. Gets you well ahead of the crowd if you're heading south, but the highway is very close if you want to head north.
Dave