Here's my take on the points to cruise thing. It is a very point intensive way to go and if you are "points challenged" like we are (only have 250 points) it's really hard to plan effectively. We can only vacation during the peak periods when school is out so the point requirements are high.
We booked a 4 n. cruise for this past July in the late winter/early spring of 2007, AS SOON AS the
point charts were out. At that time it cost us 392 points (1 and 2/3 years worth for us) for 3 people in an "inside deluxe" category 10 cabin. I HATED that we were out of points for SO-O long and only got 4 nights out of it. By the time we sailed, the cash price for it was up to approx. $4,000 so we DID keep that cash in the bank. Don't get me wrong, we LOVE
DCL but after we did it I really, really thought it was a LOT of points for a Cat 10 for only 4 nights. When the point charts came out for 2009 the same 4 n cruise in a Cat. 10 in July went UP by 65 points to 457!! That's a HUGE increase!! And it's for an "inside" cabin.
OK, this is what we're planning to do with our points for this next year - we are going to be a LOT more frugal:
We have a Dec UY so we JUST got more points and are starting fresh. We had 10 points banked from last year for a total of 260 to use this year. We just booked 7 nights in a studio at BCV Aug 16-23 and are planning to follow that with 3 nights at Vero Beach in an OVIR or Studio for a total of 10 nights (159 points). Then, the tentative plan is to book a studio for 5 n (Sun-Thur, probably at SSR) over spring break 2010. That would use 85 points and leaves a total of 16 points that we will bank into the next year. That gives us 266 points to use for the NEXT summer (2010) and we're thinking of trying to get a THV for 6 nights (248 pts) and take some more family with us. We'll also still have 18 points left from that to use somehow or bank.
So...from August 2009 to August 2010 we will be able to get 3 trips out of our measley 250 points and AP's and will have a total of 21 nights on points (providing accomodations for others on the last trip).

To recap: 4 nights on DCL for 1 and 2/3 years worth of points
VS 21 nights. You decide where you get the most bang for your buck. I don't think it's on DCL.
I am SURE if I check the rack rates for these other trips we are getting a better deal this way. I am just going to take a wild guess here and estimate that the cash price for the studios would run $265 on average. 15 nights x 265 = $3,975 + of course that dreaded hotel tax. How much is that? 12%? That would add roughly another $475 so we're up to about $4,450. Now, who knows how much the THV's would go for. That's unknown but let's just guess. I think a 2 bedroom at SSR in the summer runs for about $550 / night. That would add another $2,750 + 12% tax = $3,080. If I am anywhere close to being in the right ballpark these 21 nights would have a combined cash value of approx. $7,530 which would be $3,530 more than the value of the 4 n cruise (at 2008 prices). Since DCL keeps raising their prices (and points) dramatically I would say the margin is probably even less than that. I know the math is not perfect but I am still blown away by 21 nights VS 4 nights.
Did we enjoy our cruise? YES! Are we glad we did it ? YES! Will we ever do it again on points? HIGHLY DOUBT IT!!