For us I think it's a value. Before we bought in we were staying in deluxe resorts - and once off property in a "dive" through a trade with II on a timeshare my parents used to own upstate. Horrible place, don't remember the name, on 192, took FOREVER to get into and out of the parks.
Anyway, the deluxe resorts back then were around $255 a night plus tax, and they are only hotel rooms - no washer/dryer, no kitchen or kitchenette. Figuring roughly around $1700 or $1800 for 6 night stays - now I understand the moderates can be that high (depending on time of year), and the deluxes are higher. Our maintenance fees are about $1100 a year and we are getting about 10 nights a year on our points, more if we use studio's. So there's a savings right there. We usually buy 10 day non expire park hoppers, getting about 3 vacations out of them, since we don't go into the parks everyday now, and we usually drive down. So we really only need meal $$ and travel $$$ for gas, tolls and an overnight stay (on the rise!).
While we aren't big on cooking meals while on vacation, having the option to store milk, scramble up some eggs and make some toast and coffee in the morning saves a ton of money on a sit down breakfast for 4 of us. So there's that.
Than there's no more souvenior money being spent, maybe bringing home some taffy or sweets from BW Sweet Shoppe is about all - so there's that.
We travel all together one week long trip a year, and I try to get there with a couple of girlfriends 3 or 4 nights in the fall too. Hotel costs alone would be about $3000 with tax (and I think I'm pricing moderates here) if we were to pay cash.
Our family trip once a year costs alittle less than that - so for us it is a savings, (we bought our points at $65 and paid it upfront, no financing)
but we really didn't look at it for that reason. We just knew we'd want to come back here as much as possible, and it has a nice strong trade out value if we ever want to start venturing further out into the world (that hasn't really happened yet - after all this is the happiness place in the world!

).
ENJOY!