I'll give you an example: I have a cruise booked with cash for next summer--4 nts on the Dream in a category 4E, $5800 for 4 people before my 10% OBB discount. It would cost me 549 pts to go on this cruise. We own 350 pts...so it would cost me all of 1 year and 200 pts from another year, leaving me only 150 pts to use at Disney World in 2 years.
In the past 2 years, we have spent 600 pts at Disney World--only 50 pts more than that cruise would cost us. This is what we got with our 600 pts: 4 trips to Disney: 25 nights in Disney resorts--21 nights in studios and 4 nights in a 2 bedroom. The rack rate for those stays would be $17,500.
Using our points at Disney is a much better value for us, and lets us stay at Disney more often than if we used them towards a cruise.