We've been to Keystone a couple of times using points. I get confused about Premium & Deluxe at Keystone, so I hope I get this right. Our last trip we stayed in at 2 br at The Timbers, a River Run Premium location. The Timbers are located at the base of the mountain, just steps away from the gondola, very private & quiet, a short walking distance to the River Run village. The Timbers is a ski/in-ski/out resort. The accommodations are top of the line, very nicely decorated, very spacious & luxurious.
Previously we stayed in a 2 br River Run Deluxe. This area is not ski in/ski out but is only a short walking distance to the gondola. There are numerous condo bldgs in this category in the River Run village area, shopping, restaurants, night life, etc., and a short walking distance to the gondola, chair lift, ski school, ski rental. The room was small & cozy, nothing like what we're used to at WDW but it met our needs. It was nice, just not luxurious & spacious like The Timbers.
The point difference was considerable. Point value was around 160 for our 4 night stay at a River Run Deluxe and over 300 for a 4 night stay at The Timbers. If you go to the Keystone website you can see the locations of the different categories and see photos of the rooms. River Run Condominiums are the deluxe resort.
http://keystone.snow.com/info/rst.map.asp
We're hoping to go again this year either the few days after New Year's or Spring Break, haven't decided yet. We'll do the Deluxe accommodations this time. The Timbers were a nice splurge once, but not worth the excessive points repeatedly.