I also would vote somewhere between choices 2 and 3. No, I probably wouldn't sell...probably wouldn't even seriously consider it....we did buy where we wanted to stay based on what was available at the time. Then again, we would be highly disappointed to lose so many great options. And our very small add on at VWL would become more difficult to use if we couldn't add to our stay there using other points.
Granted, we've mostly used our points at our home resorts....except for some last minute reservations where we ended up at OKW, and the one time we've tried BCV....but it would still bug me to not have the option. Then again, we would really love to own some points at each resort where we'd like to stay repeatedly....its in our eventual goals to add more to our VWL contract so its easier to use as well as getting a resale at one of the other resorts...probably either OKW or HH, though we may change our minds if we discover we love SSR or something. Honestly though, we just bought our first house (our third "home" LOL!) and the day when we're ready to add to DVC seems a long way off....so we haven't thoroughly evaluated what we'll want yet.
I don't see this as anything to worry about, then again, those purchasing DVC need to know that its a possibility that is addressed in our contracts.....and its one more reason everyone recommends that you buy where you want to stay! Bringing up these issues is far from having a "the sky is falling" mentality....when making such a huge investment a person should be as informed about the possibilities as they can be.