This is the first year I am a member, so I don't know what benefits I missed out on a few years ago. However, we are staying at the Fairway Villas at Disney Institute this November and received 20% off our room and $75 Disney dollars which more than paid for itself!
When I first called to make our reservations they told me the discounts were all gone (or not available, or something) I kept calling every couple of weeks and did finally get the room discount. The Disney dollars however were always there, it had nothing to do with the room discount
Shelly
6/86 - Campground
11/01 - Fairway Villas @ Disney Institute