During much of 2006,
DVC offered great deals on point stays at DL for the 50th. We went to the Grand Californian on points just last month and had an AMAZING time. Beautiful hotel, great service, wonderful location. The Disneyland Hotel is an even better deal on points, depending on your preferences, style, taste. DLH has a bigger and more "themed" pool - some kids prefer that. Also has the slightly more popular character breakfast. But the Grand CAlifornian pool is themed and we like the character breakfast there with chip n Dale. We also love the lobby bar at this hotel, which is beautiful.
Stayed there last year on points as well -- fabu! Upon checkin, we were upgraded to a suite with a beautiful fireworks view!
We love the place and believe that the values offered on point stays during past year or two have been incredible. I haven't looked at the 2007 charts yet, but unless they have gone up substantially, I def recommend it as a nice change-of-pace west coast option.
Never had any problem making ressies only a few months out.
Have fun!!