I don't know about the villas, but as far as I've ever read, booking at PPH or DLH is really simple and can be done at
nearly anytime.
The issue with booking PPH and DLH is that once you've booked with your points, they cannot be used for *villas* anymore. Their status changes; they are reservation points instead of vacation points, or something like that. So if you decide to book at Paradise Pier or Disneyland Hotel, DO NOT KEEP LOOKING at the villas, because you can't use those same points to book at the villas if something opens there. Just be happy with your choice and get excited for the hotel you chose.