We haven't stayed as members yet, but were able to book one vacation for this year and bank the rest for next year. With our 2010 points alone (not counting our leftover banked points), we were able to book 10 days at BLT. We are doing a standard view studio (we are working our way into the luxury of
DVC), so if you are frugal with your points, you can have a REALLY LONG vacation. We purchased 200 points. I say we, I mean me. I'm 25 and purchased the membership, with my parents as additional members. We agreed that, since they are taking advantage of the membership, that I will pay the loan, and they'll pay the annual dues.
I will have to say that, if you are just looking for lodging, you can probably do cheaper. For my last minute trip this coming Jan, I didn't want to use points, so I booked 3 nights at All Star Movies for what it cost for 1 month of my loan payment. I just looked to find out the cash value of staying in a standard studio at BLT for the time we are there, and it is $4,440. That is about $1,000 more than my annual loan payments. When you add in my estimated Annual Dues for 2010, I am saving around $200. But that won't use all my points, either. So, I still have a small vacation I can take, staying at a studio that is less points.
Sure, I could probably go more often for the same money, but with increasing costs of the resorts, that may not always be true. With our banked points, we are staying in March, and are planning on October, with the possibility of another December trip. We have never stayed in a monorail resort. The highest level resort we've been able to stay in is BW, and that was just 3 days in 2002. This has given us the ability to stay in places we've never been able to stay.
All this, and I've never even used my membership! I am so very glad I purchased it. This will give me and my family (when I have my own family) the ability to take trips to the best vacation destination for years to come.