Length of Contract was ONE of the factors we looked at. My opinion, for whatever that is worth, is that BLT makes the most sense. I will be 89 when the end of contract rolls around. I plan on wringing as much fun out of DVC as I can and let my kids do the same. The extra time on the contract is a significant portion, in terms of percentage. Is the extra Price per point worth it? Maybe....
It boils down to where you like to stay. A ton of people think BLT, and CR for that matter, are cold and uninteresting. Me and my wife like the decor. I am stuck on being close to MK and being able to monorail over to Epcot (even though there is a transfer) The bus stop is close to BLT to get everywhere else. So the location and access is a another factor.
In all, you will use the extra length of contract at 7 months each year if you dont like BLT. If you are OK with 7 months booking, do it.
For us, it was a no brainer. We like BLT, we like being close to MK and it had lower MF AND a longer contract. But if we were hesitant about BLT, it would not have made as much sense for us.