Took our daughter for her first birthday a month after we joined DVC (luckily there was availability for a 2BR two weeks out from our trip and we were able to bring grandparents!). We also have another one coming in July and plan to bring for her first birthday as well! I have lots of tips/suggestions for bringing a baby/toddler to Disney, such as making use of the baby care centers, having an easy-to-fold light weight stroller, a comfortable baby carrier with shade, and so on), feel free to PM me for more details about park visits! I know there are others who wouldn't agree with bringing a baby/toddler but I think it's totally worth it. Seeing my daughter's face light up and smile and wave at Mickey the first time she was him will be a memory I'll never forget. Not only that, there's several rides babies/toddlers can go on like small world, runaway railway, toy story mania, remy's, people mover, and more.
As for DVC, it helps a lot being DVC because there's no need to do rope-drop to closing because you know you'll be back. You can choose some of the resorts that are walkable to MK, something that I know I never could've afforded (or at least stomach paying for one trip). Also, are you're considering DVC, consider enough points to have a 1BR. We did a trip last month during president's day weekend as we stayed in a studio and it was kind of an awful experience compared to our first stay in the 2BR, since we basically had to turn off all the lights and stay super quiet when our baby went to bed. Studios and babies/toddlers don't go well, unless you're in one of the deluxe studios where you can put a pack and play in one of the bathrooms. We plan to stay in 1BR for the next couple of years until both girls will be able to sleep with us shuffling around, then we'll stretch the points out longer in studios again!