Ok, here are the positive reasons why we bought
DVC:
1. We have a 14 yo son and a 12 yo daughter. We get a two bedroom villa so they don't even have to sleep in the same room on vacation. And, since our home resort is AKL, we get three bathrooms so the four of us can all get ready at pretty much the same time. Not even getting two rooms at the value resorts could give us that.
2. Breakfast in our villa is a huge, huge time saver! Last time we were at WDW, we only ate one breakfast outside of our villa and that's only because Chef Mickey's is our family tradition. And really, I hate to cook when I'm on vacation too, but making breakfast (scrambling a couple of eggs, toasting some bread) isn't really "cooking".
3. The washer and dryer are wonderful. Since our trips usually involve flying, we can pretty much get everything we need into a couple of carryons and run a load or two of laundry during the week, depending on how long we stay.
4. Frozen water bottles! We were there in October of 2009 and it was unseasonably hot. We froze a few water bottles overnight and carried them into the parks -- we had cold water almost all day. Another trick I learned from one of DS's Little League coaches: freeze wet washcloths. We brought some from home and kept them in ziplock bags in my backpack. They were so refreshing! There's no way we could have done all of that in a regular resort room and the little things like that can make or break a vacation....
5. Hilton Head, Aulani, the Grand Californian -- There are other places we can go besides WDW that are still Disney Vacation Club. And, if something ever comes of the land Disney bought in the Washington DC area, there may be more in the future. This isn't one of the reasons we bought DVC, but after having been to Hilton Head once, we know we're going back (in May!)
6. Thanks to expiring points, we "have to" take a vacation at least every other year. Sometimes when life gets really crazy, it helps to know that we have an escape planned.
7. Although it's not the best use of points, and there is the $95 fee, exchanging is possible. This year a trip to WDW just wasn't in the cards for us, so we went through RCI and got an exchange to Gatlinburg, TN. It wasn't quite the same quality, but it was much nicer than anywhere we would have stayed if we'd been paying out of pocket.
8. I know that others here have pointed out that the points don't actually go up every year, they get reallocated sometimes. Since most of our trips to WDW are over long weekends during the school year, our point costs actually went down by 12 points. So it's not always negative.