Tung Chung's main residential apartments are the Tng Ching Crescent, Seaview Crescent, Carribbean Coast and Coastal Skyline, all of which I are managed by the MTR. In terms of size, the indiviudal units range from around 450-2000 sq ft, but most are around 450-800 sq ft, with some around 1000 sq ft. So you have to decide if that is too small or just right for you.
The main advantage (and also disadvantage) is that Tung Chung is close to the airport, which will save you travel time. The upside is that there are some decent public parks bulit around the residential estates, this open space you won't find in Kowloon or Hong Kong Island. The main downside is the air pollution, as the place is exposed to the Pearl River Delta's factories emission, which often hits Tung Chung first.
There use to be fair number of pilots living in Sai Kung back in the Kai Tak days, but of course the airport was alot closer to Sai Kung then. In terms of scenery, it is the most green place in the city. Also some nice hiking trails.
You could also try those village houses that are scattered around Lantau Island. Those on the South side of the land has slightly less pollution and some great beach views, although public transportation may not be as convienient as the rest of the city.