You didn't mention which cruise you are interested in. The other cruise option for
DVC points is Holland America Line to Alaska.
We're taking an Alaskan cruise for the 4th time in May (2nd time since joining DVC). We're paying cash rather than points because of the season we are going - May is pretty low season for $ as it is early for Alaska. Points are 211 each adult (2) and it doesn't change with the season.
Using $9 as alisbarc did, this would be the equivalent of $1899 per person if you rented your points out instead. We are paying $2120 pp for a FULL suite - with huge verandah (cat S), while the 211 points gets you an outside cabin on a lower deck (cat D) on that same sailing (today listed as $1,124.15 pp on the HAL site).
That said, IF you wanted to go on 2 Aug instead for example, that 211 point cabin would cost $1,878.15 pp - not worth renting your points to pay $ instead. (The $1,878.15 is the cost today, cruise prices do fluctuate).
So, if you are looking for an Alaskan cruise rather than
DCL, my answer as to if it is better to pay cash and rent your points out instead - it depends on when you want to go. You'll need to price things out for your situation and decide if the trouble is worth it.