The biggest villa I could get so that I could bring my entire family (siblings and their families) for the best family reunion ever! Okay so maybe two separate smaller villas so everyone survives.
For a one time use, the BWV because of its location and standard room point cost.
For ownership, the VGF since it costs the most to buy and has the highest resale value (that way I could always downgrade to a different resort if I wanted to).
Seeing as how I don't have enough vacation time to justify 1,000 pts, I would sell em'. In a perfect would, I would probably split them amongst a few resorts - BLT and Poly (once online).
If it is a 1,000 point contract, I would probably choose BLT primarily for the length of the contract and the proximity to MK. I would probably get a GV for 10-12 days in December every year and invite friends and family, although periodically I would do an October stay for MNNSHP and F&W. Of course, I would hope that it would come with MF's for the length of the contract, as well.
If these are one time use points, I would get about two weeks in a 1BR and two-ish weeks in a 2BR from mid-Oct to mid-Nov at BWV. I would invite friends during the 2BR portion and enjoy F&W, MNSSHP and the first part of the Christmas season!