How many people in your party? The CC studio villa will have a queen bed and a queen foldout sofa, and those sofas are not especially comfortable according to most reports.
It will also have a kitchenette with microwave, toaster and bar sink and should have a mini-fridge as opposed to the beverage cooler that many resort rooms have.
The early part of September is one of the least popular times for DVC owners to book, so the points cost is the lowest of the entire year. That may be the reason the cash price is lower - just not as much demand for those rooms that week!
Just saw your most recent post - if the lack of a tub isn’t a problem with your toddler, the kitchenette might be useful! CCV is in the main building - those villas are actually converted hotel rooms - so very convenient to restaurants, bus and boat same as the hotel rooms. For a $1200 savings, I’d do it.