I have just returned from 3 weeks in Serre Che (22nd Jan 04). The Club Med Hotel is right at the base of the slopes in Villeneuve (the middle town in the valley). Although I did not stay at Club Med I must say that it looked great. Especially when I had to ski past the entrance of the Club Med to reach the bottom of the slopes before walking to my own Chalet.
I don't have any kids myself so I am not up to speed on the activities available. However, the green slopes are in front of the Hotel and the beginner slopes at the bottom of the mountain are wide and gentle.
If you avoid the new year period you will find that the lifts are very quiet, and I think you would have to ski from the hotel down to the lift?. If you have access to a piste map then the CM is just right and under the Frejus lift (if memory serves).
Dining out can be expensive but there are a number of small rests in the Old Town worth a visit.
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