I'm anticipating that the availability of staying at the Beach Club villas will not be very good in the 7 month window, given the advanced sales, and that the number of villas available in the point pool will be equivalent to the number of Beach Club DVC points sold.
The option will be there and as part of your membership you'll be able to use reservations, they just might be hard to come by in terms of availability. Perhaps those trying to stay at WLV when it first opened can share their experience regarding availability as a guide.