We can only speak from our own experience. At the risk of sounding like a broken record we bought in around the time the dot-come bubble burst. We had been debating for several years to join, or not to join. We did the tours, read the discussion list and played with the spreadsheets. With our portfolio losing value (our retirement investments) we figured we might as well spend it while it's still worth something. We actually sold some of our shares of our stock in Disney, which had gone through several splits, to make this purchase. We found a very nice resale that included a year's worth of banked points. The seller was an overseas owner that really wanted to unload quickly. Then we found an add-on with a similar scenario. An overseas seller who was willing to cover our 1st years MFs. Since we had been saving our $$$ with the intention of enjoying our retirement we did not look at this purchase as an investment for the purpose of making money at a latter date but an investment in R&R for the present. We did find some unanticipated residual benefits. These may, or may not be relevant, or important, to your situation.
1) We ended up spending about the same per trip as before joining
DVC. However, since we have 6 children, we could never get by with anything least than 2 rooms. Having worked our way up from absolutely nothing to a state of extreme poverty the moderates, deluxe, and home-away-from-home units were definitely out of our budget, even with the promos and discounts offered at that time.
2. Even though our costs were about the same per stay we were now staying longer in a two bedroom as opposed to two separate rooms at a value/moderate.
3. My DW and I could now have our space together in the master suite as opposed to being split up since, when staying in the values/moderates, it was required that there be one adult in each room.
4. The jacuzzi
5. Dining costs dropped since we had a full kitchen and could enjoy a full breakfast in the room, or on the balcony, before going to the parks, or returning to the room for lunch, dinner or whatever. We even bar-be-qued with the grills available at the quiet pools.
6. Park admissions dropped because we staggered and alternated the times of our visits to get multiple trips out of our APs. That way we purchased an AP every other year which is cheaper than a renewal every year.
7. Since we itemize our taxes we gained another deduction, albeit, a small one. Part of the MF goes to property taxes. There are other deductions available depending upon how you finance the purchase.
8. My DW is now very happy. When she is happy all is right in the world. Prior to DVC I seldom went on a vacation, much less planned a vacation. With all our kids it made my brain hurt thinking about the logistics and costs and tripping over each other in a motel room. Prior to DVC the trips where spontaneous and on short notice. Now we do have to plan in advance which my DW loves. I can't make excuses anymore that hold any water.
9. Plus that magic feeling when you hear
HOME! upon your arrival.
As much as we've enjoyed staying in a Value/Moderate we find it would be difficult to go back after staying at DVC. I realize other posters have indicated they have had issues regarding their rooms and maintenance. We have not experienced any of those issues. We've been very happy and feel that we continue to get the bang for the buck. We can vouch for the advantages DVC provides for large families. We actually expected that we would probably sell as the kids moved out and the need for large accomodations diminished. To the contrary. We do stay in smaller accomodations with longer stays and multiple trips. We are a couple of years away from full retirement and the grandchildren coming with us.
As far as the perks, they do come and go. However when we lose one it is replaced with another. It seems to balance out. Now that I think about it they are actually more generous then they were when we first bought into DVC.
Here is a nice link to a DVC Primer that I wish would have been available at the time we were considering whether to purchase or not.
http://www.mouseplanet.com/8739/A_Di...on_Club_Primer
) and have decided to put an offer on a resale at SSR - 200 points. and the nice thing is that there are 198 points banked from 2009 that don't have to be used until june of next year! 
