It's not a bad deal for BLT, but it's only a tiny bit better than the owner referral incentives that just ended for BLT. (For other than BLT, this is not a very good deal.) For 160-199 points, you save an extra $1 per point over the recent incentives. For 200-269 points, you save an extra $1 per point, plus get the two free tickets. For 270 points or more, you save $3 per point, plus get the tickets if you buy more than 320 points.
So, I guess if you were planning to buy 270 points, you save about $800 over what was recently being offered. Now, if it was stackable with the $500 rewards for disney visa, then that would start to be a bit better; otherwise, it's a pretty negligible savings over what was just offered.
Closing has pretty much always been $350 if you finance, so that's no better. When they say they are "splitting" it, what they mean is that they pick up the owners' portion of the title policy, which is not a huge deal and which they've been offering anyway. They also have been giving everyone the 2009 points, so I don't think this is that much better than the recent incentives. That said, the incentives are over, so this is certainly a better deal than what is currently available.