If the UY is April, can I use the points in reservation status and borrow my points that I am to receive in April 08 to use for a trip in Feb 08? Of course I still need to pass the ROFR until I am actually a member.
Yes, but you need to be aware that Reservation Points cannot be used at DVC resorts - they are points returned to the account from cancelling a non-DVC reservation. They will expire on March 31, 2008. You can combine them with borrowed points for a non-DVC reservation (Cruise Line, WDW Resorts, DL Resorts, World Passport Collection, Concierge Collection).
The $95 fee is being collected, beginning Jan 1st, for any non-DVC reservation...if you stay at a regular WDW resort (non-DVC) or Disneyland resort, cruise, etc. a $95 fee will be applied.