I booked a trip last minute (
DCL last minute, which was many months in advance!) and the DVC cash rate was significantly cheaper than the DCL rate. We paid points for one person and paid cash for the rest. It was cheaper than DCL. I was told that the DVC prices are set at the beginning of release and if the DCL prices go higher due to quick bookings, you can get into the situation I found. That was pre-placeholder so people would book cruises they knew they wouldn't take just to get a placeholder which increased prices prematurely. I found a quirk in the system.