You cannot use points at Value resorts, nor may you use points at any WDW resorts which also have a DVC resort. This means you can't use points at the BW inn, the Beach Club, or the Wilderness Lodge.
If the value resorts had points, it would definitely be higher than 2-3 points/night. Currently points range from 15 points (Caribbean beach, Coronado Springs, Port Orleans, all Sun-Thu, Value Season) and on up.
Comparing AS or PC room rates to PO or CS, it would seem that DVC points for a Value Resort would probably be around 2/3rds the other resorts' rates, or roughly in the 10 pts/night during value season, and up to about 15 points/night during peak season. So for example, in January your choice might be 10 points for a small room at All Stars, or 8 points for a Studio at OKW, 9 points for BWV standard, 11 points for SSR, or 12 points for BCV, VWL, or BWV pref.