
We are going to use our points for the Hotel Del Coronado in APril for a nice 3 night getaway (just DH and I). But with the $95 fee and the points needed, it BARELY made it worth while, even though the rates there are in the $500/n range. Remember you have to pay MF on all your points each year too!
K
While we never have, my BIL/SIL have many times. They have been very pleased with their accommodations, and from what I understand, you can tour (or see pics) of many of the timeshares on-line. They have gone to Spain, Portugal, Paris, Aruba, Hawaii, Germany, Cancun, etc. They also go to Dis over Spring Break almost every year. In fact, the place they stayed at in Spain was like a mini-house (she said it was closer to a GV at Disney) and it had a small private pool of its own!!!
They own around 450 points and here's how they spend them:
* Spring Break (premier season) - spend roughly 200 at OKW for a 2-BR and usually pay cash for the 2 weekend nights. If they didn't, adding the two weekend nights would cost them another 200 points.
* If they trade out, they spend 270 points (at most) on a 2-BR through II. If you look at a 1 week reservation at OKW during July, a 2-BR runs 30 points per week night and 73 points for Friday and Saturday. If you assumed 73 points for a Friday/Saturday stay through II, your week days would run you about 25 points per night.
My BIL/SIL have loved trading out and have really felt their DVC membership has allowed them this opportunity. While another timeshare may have been a better value, they already owned the points through DVC. Rather than selling off some of their points and purchasing a different timeshare, they have opted to use what they have to meet their travel needs.

I'll give you an example. We are intending to take the kids to Washington DC this summer. DVC gives us one DC option that will meet our travel needs (staying inside Washington, close to the metro) - the Mandrian at 48 points a night. The Mandrian is a great hotel, but we don't need the Mandrian - and the Hyatt can be gotten on priceline for $200 a night. Better value, more flexibility - and the Hyatt is still a darn nice hotel.
I see what you are saying except what $$ value are you putting on your 48 points per night to compare to the $200 per night?
Well, even if its just dues - at $4.75 a point its $228. I figure my points cost me currently about $7 a year - initial buy in cost factored over the life of the contract plus dues. That's $336 a night. Plus there is the booking fee for the Mandarin (I think) as well - another $100 on top of the 48 points a night. Those aren't bad prices for the Mandarin - its a $450 a night hotel. Though if I value my points at a $12 rental rate - I'm getting a $580 rate for a $450 room.
And there are obviously cheaper options than the Hyatt - the flexibility part of the equation. I don't need a $450 a night room - and I may yet decide I don't need a $200 a night room.