Lately, DVC has been offering $200 gift cards to members who make referrals (but only when the referral actually buys in to DVC). The referred persons have also been offered X$ off per point for SSR and AKV. The terms of these referral offers keep changing, so its best to consult with your guide to see what is being offered at the moment.
I get nothing for referring (which is a shame as friends of ours just bought into DVC this year), as we live in a Canadian province that DVC is not registered in.
When I joined back in 2006, my co-worker(DVC member) submitted a referral to DVC with my name, etc. and when I joined, the co-worker received a $200 check from DVC but my recollection is that it took a few months. I was lucky that I lived in a state that allows referrals (MA) and my co-worker split the $200 with me.