I never did WDW for NYE, but I once went to Disneyland Paris for it. Never again, for me it is just not magical. It's not what I go to Disney for. It is possible to have a good time, but as confirmed by everyone in this thread, you have to think to alternative things to do rather what you would in normal circumstances.

I have no idea how many points our preferred rooms went up or down because we go at all different times of the year. I’m sure it went up for us in some seasons and down in others. We’re going to WDW in Magic Season this next year, and it is a painful amount of points to spend. Supposedly, that was one of the seasons where a lot of the points requirements decreased. If only they could retroactively decrease it for us...