If you bought your points directly from Disney or bought a resale contract prior to 3/20/2011, then yes, you can use your points to book at the Poly.
You just call MS and let them know the dates. You will have to pay a $95 fee to make a reservtion at a non-
DVC resort. If you cancel the reservation, the points will be returned to your account but they cannot be used to reserve a villa at a DVC resort - just other non-DVC options. And those points cannot be banked - they will expire at the end of your use year.
Be sure to look at the non-DVC
point charts carefully before you decide to book a non-DVC resort. Booking a hotel room at the Poly will require more points than will a DVC resort. Some times of the year, the Poly hotel room is more than a 2 bedroom at a DVC resort! You will almost certainly pay a lot less if you pay cash for the Poly, especially if you can snag a discount.
P.S. Points per night for a room at the Poly in 2011 range from 42 (Garden View weeknight in Value season) to 104 (Club Level Lagoon View Friday or Saturday Night in Premier Season). The complete chart for WDW non-DVC resorts is on the Members' webiste.
To compare, a
2 bedroom at BLT ranges from 37 (standard view weeknight in Adventure Season) to 98 (Friday or Saturaday night in THeme Park View during Premier Season).
