I'm pretty sure that you can't get Free Dining by renting points from a member at a DVC resort. But this is really more of a DVC question than a ThemeParks question so I've moved it over here for the experts to answer!
Disney offers the Disney Dining Plan with some promotions,you will pay one price for an entire package that includes park tickets lodging and meals. It is available for purchase to DVC members for their length of stay while at a DVC resort. I don't think renters of DVC can purchase the plan, I may be incorrect about that but it is listed as a member perk. Even if you can get the DDP it is not free, there are several plans available at differing costs. Not sure how you who you would call since as a member we go through member services and will only assist members. possibly the person you rent from can help you out.
free dinning is part of WDW package that MUST include rack rate for the room and tickets. It also is only in late Aug and Sept. This was only offered in the bounce back plan and overseas. So far it is not offered in the US yet.
if you rent a reservation (points won't help you) you don't get free dinning.
you can have the member add the DDP to your reservations. that can definitely be done and you don't have to buy tickets to get it. next year I think the price will be $36.99 per person for 2008.
you are getting a great bargin renting a reservation through a DVC member than going through CRO.
if you want free dinning - then you probably will have a long wait - don't think DIsney will even began to offer to the US still next May (might be April).