well i currently live in repluse bay and have lived in 3 different appartments here. I have also lived in parkview but was several years ago, but still go up their weekly to do my food shopping!
Both have advantages and disadvantages..
Parkview: Nice area, Big complex, Lots of families, Good facilities (gym, pool, restaurants, etc) also has pre-school (PIPS), supermarkets, hairdressers, etc, Good security (tho thats not a big deal in HK). But.. Does spend 40% of the year in the clouds, No buses go near it (do have parkview bus, not sure of frequency tho) which means lots of taxis!
Repulse Bay: Very much depends on where in repulse you choose to live, there are complexs there that offer all that parkview has plus better public transport and nicer views.. but again there are places which lack all of those facilities/services.. although if you live anywhere in repulse you will be within walking distance (5-15mins) of all the same stuff! You will also be within walking distance of a beach which is always nice! Being able to see the sea also makes you feel like you are living somewhere quite exotic!
In general both places are in nice areas, are perfect for western families and tho there is a much bigger price range in RB, whatever you would pay in parkview for the same cost would get you a very similar standard of apparment!
As said in an earlier post, you should just go check them both out when you arrive.. im pretty sure there is always going to be some places availible in both places!!
Hope this helps