We've made reservations for others and they did get all the perks we did as members. But the way it's worded, there seems to be some ambiguity to it.
Clipped from the
DVC member website, page 15 of "Home Resort Rules And Regulations":
3. Making Reservations for Non-Club Members
1) Club Members may use their Home Resort Vacation Points to reserve Vacation Homes that will be occupied by non-Club Members.
2) When a Club Member uses his or her Home Resort Vacation Points to reserve Vacation Homes on behalf of a non-Club Member, and the Club Member does not charge any rental or other fees to the non-Club Member for the reservation,
the non-Club Member is eligible for all or some of the Club
Member privileges and benefits that a Club Member would normally receive during his or her stay in the reserved Vacation Home. If the non-Club Member is renting, it is the responsibility of the Member to notify Member Services when making the reservation. Member privileges and benefits cannot be
extended to non-Club Members who rent Vacation Homes from Club Members.