We rented a GCH 2-bedroom villa in February 2014 from David's. Wonderful experience!
We were hesitant at first - how do we manage to get a room with a view of the park, a kitchen, balcony, on Disney property, free self parking, no taxes, all for HALF the price of a 1-bedroom small hotel room at the GCH? (We had 2 parties and split a $664/night 2-bedroom suite - cost $332/night INCLUDING TAXES per family. The going rate for a single room with no view, no kitchen, etc. was $550/night PLUS 20% taxes = ~ $650). We both had our own private bedrooms with showers and bathrooms, with locking doors, with a middle kitchen/living room area which was so relaxing. We watched World of Color from our rooms half the nights we were there (6 nights).
It sounded too good to be true, so I researched it a LOT over a period of a month. I read these boards here, and many other message boards. I asked an aunt who was a DVC member about it as well.
The Pros:
* You're treated as a DVC member - YOUR name is on the room reservation, the person who booked the rental in your name is never mentioned, nor on any Disney paperwork that I saw, just YOUR name.
* You get the DVC perks like free self parking (saved us $15 a day!).
* No taxes or fees added to your hotel room (vs. about 20% in taxes for a hotel reservation) - the price you paid long before is the final price.
* Amazing rooms with a very good chance of getting an amazing view vs. a regular room where you might not
* Great location within GCH guaranteed, luck of the draw with another regular hotel room.
* FULL kitchen with full-sized refrigerator, stove, oven, microwave, large seating area, pull out couches. Our 2-bedroom sat about 10 people in the 'living room'.
* Washer and Dryer
The Cons:
* You need to know your travel dates more than 7 months out. Call David's at 8 months out, and they will work to get the reservation at EXACTLY 7 months out. (For the GCH, there aren't many people who rent GCH points, so it's tougher to get a reservation at 11 months than 7 months when ANY points can be used for the reservation)
* You need to pay in FULL at that time. If you're booking through Disney you don't pay right away.
* If you're a worrier, you might worry that the person who made your reservation changed or cancelled it. You can't see the GCH reservations online like you can at the WDW resorts. Going through someone like David's is less of a worry, because you'll get your money back if someone ever does that, and David's says nobody ever has.
* Can't cancel the reservation.
* No maid service. Can pay for it if you like, or order additional towels, etc. for a price, otherwise you need to wash your towels in the washer/dryer inside the suite.