We've been members at OKW since 1995. I've looked at it from every angle, and my reasons for ownership (and happiness with it) have varied over the years. I read the arguments pro and con about whether financially DVC is a good purchase (purchase, NOT investment), and in the long run, it really doesn't matter to me.
Over the years, we've stayed at every DVC resort (with the exception of Hilton Head, which we visited during construction), taken a couple of cruises, stayed at most of the hotels at Disney World offered, stayed a couple of times at
Disneyland, and used the Concierge Collection for stays in Hawaii and Washington, DC.
I first visited Disney World in 1973 and have been at least once a year since then, sometimes going 2 or 3 times in a year. Needless to say, Disney fandom was an issue for us and helped us make our decision to join.
I liked the idea of locking my vacations in with a DVC purchase. We purchased our points at a low interest race over 84 months. I did some free lance work on the side that basically paid for this. This was money I'd been 'throwing away' before I bought DVC.
Disney does a remarkable job of promoting DVC members as a "family". I have no problem with this, in fact I enjoy it a lot. When on the cruises, we've attended the special meetings they have for DVC members and have made some very nice friends as a result of these. Two years ago on the western Caribbean cruise, we met some other couples and became great friends. We all got together at Disneyland last year, and one couple is sailing with us in September on the Eastern Caribbean, and we're all sailing the Mediterranean and meeting up in Paris with them in 07. (In fact, we sent DVC our story, and our picture is in the current Disney Vacation Club magazine on the inside back cover if you have a copy lying around.)
Since I've been visiting DVC sites, I've seen all kinds of financial analysis about whether DVC is a good investment or not. I frankly don't care. I'm willing to accept that a certain amount of the cost of Disney Vacation Club pays for the experience, the ambiance and the friendship possibilities.
The other aspect I enjoy is the planning involved. I have spent countless hours over ten years planning vacations using DVC points. For me, it's flat out fun.
Disney Vacation Club is as much a state of mind as it is anything. If you choose not to buy it because you find that financially it doesn't make sense, that's ok. But, if you find it comes even close and you like the fantasy world that is Disney, you can take it and make it something special.
I always tell people who ask me about DVC the following: "It may not be for everybody, but I haven't met anyone yet who it WASN'T for...".
Enjoy the experience.