You can also take developer points equal to the number of points purchased in lieu of the $8/pt credit.
I just joined AKV yesterday (first DVC purchase!) and was able to get a March UY so the developer points didn't matter as much since we will have this year's point available immediately. I took the $8/pt credit.
I didn't ask them if we would get developer points + this year's allotment if we took that option, but assume we would.
As we get closer to June and July, will they announce a definate date the $8 credit will end? We are planning on buying towards the end of 2007, but might do it cheaper to save $1280 off a 160 point contract..