The great thing about free cancellation when making a hotel booking is that you can change your mind about the reservation and cancel normally up to 24 hours in advance of your arrival without penalty.
This means you can keep checking hotel comparison sites and if you see a great deal, which I love and I suppose most people do, then you are able to take up that offer and lose nothing.
Comparison websites must hate me because since I made my original hotel booking on 2 September I have made three bookings, made two price comparison claims (successfully) and then cancelled three hotel bookings. (Thus causing my credit card company a huge headache.)
I originally wanted to stay at the Extended Stay Deluxe Convention Center on Universal Boulevard for our stay from 23 March to 9 April 2013 (we stayed here in 2010 and loved it - got a special offer price with British Airways at £510 for a 17 night stay). When I looked at the beginning of September prices were coming in at around £1300 on all comparison and the hotel website.
When I checked with the hotel website today I've got a 2 double bedded studio for £760 inclusive :D (£540 difference from the beginning of September to mid October). Most booking websites are quoting just over £1000!
So for anyone trying to keep their holiday budget down it's definitely worth checking hotel and price comparison websites for special offers which can save you $$$$ which means more to spend whilst on holiday.
Hope this helps - Puddle x