dannyb,
I don't know how the points will fall out next year, but this year they worked out great in my case.
I think it pays to calculate your costs both ways. Sometimes, Disney offers some really great cash rates. But cash is not always automatically the best bargin.
For my upcoming trip, the cost of the room is 29 points per night (Grand Californian Sunday thru Thurs night) for a standard view.
The best cash rate my sister could find for the same time frame was $244.00 per night (AP discount) for the same room. When you are evaluating the costs, you need to add a $7.00 per night resort fee (which is included with points) and 15% tax. This brought the cost up to $287.60.
Even if I rented my points, I figure at $10.00 per point is $290.00 per night minus any expenses incurred as the result of renting and minus whatever the income taxes would be on the gain ( I have no idea how to figure that out

)
The other interesting thing was my sister could not get availablity on all her dates using cash, but I was able to book the same room using points which tells me they might have separate inventories.
If I go by my out of pocket expenses, I figure at $6.00 per point X 29 points puts the price at $174.00 per night--and this would include the price of taxes and resort fee. It is great not having to come up with the money for resort accomodations all at one time. I obtained my sister's room on points and she is paying for our weekend accomodations, so it really worked out sweet for us.
-DC
