The member discount is 25% off the rack rate. The rack rate for a 2-bedroom at VWL in June is $690 per night. With the 25% discount it would be $517.50 (plus tax). Housekeeping is the same as when staying on points. Room availability come from member inventory that has not been booked on points (or is anticipated to go unbooked on points). I think tax is 11.5% but I'm not positive on that -- figure roughly $1,154 for the two nights.
You might do better with some of the other discounts that are out there and you would also have access to all cash inventory (plus you get daily maid service).