I also got a bounce-back free dining for September from last year.
Please note that they only have so many "free dining" slots at each resort, so if your first resort choice is not available then ask what other values have availability. I've stayed at 3 of the values and they really aren't all that different from each other. As with most resorts, sometimes the enjoyment can come from the location/neighbors of your room.
I agree that you should make a booking now and then call as soon as the Free Dining is announced. Last year we called a few weeks after it was announced and had to adjust our arrival in order to get a value resort.
We loved the free dining a lot; HOWEVER, later they came out with a room-only code which, if you weren't interested in the dining, was very economical. With the free dining, you do have to pay for tip so be sure to factor that into the cost when doing your budget. The free dining isn't really free .... let's say you could have gotten the room for $50 less per day with the room-only code. You would normally eat counter service - say $10 for your meal. With free dining, you pay rack rate for your room and then have tip on top of your table service (drink, dessert, entree might equal $30 or more x 18% tip = $5.40 per person). So you see what I mean ... your free dining will save you money if you were planning to eat that much, but if you are a light eater, the room-only may save you more money. Crunch the numbers based on your priorities.
What I am saying is, if someone isn't really interested in planning their vacation around using dining credits (e.g. wants to do off-site things as well), there will probably be a very good room-only code released for that time period as well.
The free dining, however, allowed my DH and myself to tour in an entirely different way than we had in the past; however, felt we had to stay on schedule to use our credits (e.g. no lounging around the pool til 1:00 because we had to eat lunch early enough to be hungry for a dinner table service).
Okay, that's my 2 cents worth.