As someone who has sailed on the 2003, 2005, 2006, 2007, 2008, and 2009 DVC Member Cruises I think I can help answer some of your questions.
First off the DVC Member Cruise is a charter between DVC and DCL so your normal DCL discounts etc. don't apply. In fact you will find that the DVC Member Cruise is more expensive than the same 4 night cruise right before or right after it. In addition you have to book it through Member Services (they set up a special booking day). You can pay with points, cash, or a combo. If you pay with cash it has to be in full on that day. You can't put down a deposit and pay the balance over time like with a regular cruise.
So what makes a Member Cruise different than a regular cruise:
The Members Cruises are different than a regular 4 day cruise at the same time for the following reasons:
- Usually a different itinerary than the regular cruise.
- 2003 was Castaway Cay, Nassau, Castaway Cay
- 2005 was Key West, Sea, Castaway Cay
- 2006, 2007, 2008 and 2009 were all Castaway Cay, Sea, Castaway Cay
- Special guests. Over the years we had talks and tours from different Disney Imagineers, Roy Disney, Art Linkletter, Disney Legends and some wonderful entertainment from some of Disney's Broadway stars.
- Special gifts. Limited edition pins, artwork, and other fun gifts
- Group picture on the beach
- DVC themed DCL shows and games like bingo and who wants to be a mouseketeer.
Now all of this doesn't offer a value to some people and that is great. It isn't for everyone. In addition DVC likes to surprise you so you often won't know what the theme is (though they have been using Disney Inspirations for the last couple of cruises) or who the guests are before you sail.
Another thing to keep in mind is that the DVC Member Cruise seems to be more geared to adults than to children. If you are someone that loves Disney history than you would more than likely enjoy the guest selection but they are most likely not anyone your children may know or care about. This usually means that the Member Cruise has a smaller number of children than a regular cruise. I remember back on the 2003 cruise that everyone was complaining that the adult beach was packed while the family beach was pretty quiet.
I believe that members can book up to 3 staterooms on booking day. One other thing is that since 2005 tips have been included in the Member Cruise price which is also different than most regular cruises.
BTW - one other thing not listed above. The price for the Member Cruise includes your tips. They aren't included in regular cruises.
Only you can decide what is right for you. I will say that we were a bit disappointed in both the 2008 and 2009 cruises which is one of the reasons (but not the only one) on why we didn't book this year. Communication seemed to be poor and the guests didn't seem to be as good as on previous years.
On other thing to consider. Since 2006 that first day at Castaway Cay had a late arrival of 10:30 or so while DVC was doing an on board presentation (they did one on CC day and the other on the sea day). It has been a game show, a musical show, but in reality it is a sales pitch. The good news is they give out some great raffle prizes and if you are looking to add on they have some great incentives (some who are sailing this year are doing so because they go the cruise free from adding on last year).
Hope this helps many of you decide if the Member Cruise is right for you.