I actually am not bothered by it at all. Matter of fact, I like NOT having to read the boards and hear about all those pin codes, knowing I wasn't getting one.
I have looked at my DVC investment in so many ways and as others have said, it is for the long term and years of Disney trips.
For someone who is planning the occasional trips to WDW, the current discounts are great. But, for us, over the long haul, we make out.
Even if I only look at it for the next 10 years, my MF's and initial investment, are the SAME as what I would be paying if I continued to go my 6 nights in a CR tower room with a 30% discount.
And, instead of staying in a hotel room, this assumes I will be in a 1 bedroom most of the time.
So, I guess, I am getting some of those discounts--not quite the same as 4/3 but pretty close. The only difference is I am locked in to the discount and don't have to worry about Disney changing it (which they will as the economy gets better). Even the free dining codes this year are only offering QS at the values so things are not as good as last year.
Of course, after 10 years, I will still own DVC, will still be going 6 nights, for only the cost of MF's (about 70% discount) at that point--not to shabby, if you ask me!
But, I do agree--if you feel that banking your points, and going with one of the cash deals works out better for you--go for it! DVC offers you the flexibility to do that!