IMHO, Gatlinburg can be had for a lot less than DVC points. I live close to Gatlinburg, and you can get a nice cabin for $160/nite. A lot less than 160 DVC pts. Look for Chalet rentals, and google it, and you can find a lot of bargins out there and also you can stay in Pigeon Forge as well....
Compare: 160 DVC pts=$1600 if you rent them
$160x7nights=$1232 with 10% tax.
So, you still come out ahead as Dean said, NOT ALL exchanges are worth the DVC pts.
Also, the chalets are nice, but no where near DVC quality in Gatlinburg!!
DeerH