When I first heard that Poly was going to have
DVC I was ready to jump all over it...after all, when I was a kid in the 70's the Polynesian was a siren song to me...my family could never afford to stay there, but visited occasionally for a meal and to walk around and admire the location. That was the 70's. Fast forward to last year. DH and I were staying at VWL and decided to do the luau and take a more serious look at the Poly. It is funny how things look so different from what you remember when a lot of time has passed by.
To us, though the lobby area is still impressive in that it has a tropical exotic flair, it pales to the wow factor of walking in the lobby at Wilderness Lodge or Animal Kingdom Lodge. The 70's-ness of it was nostalgic but not enchanting. The stairways tucked in the back and dark corridors were entirely utilitarian...no effort spent on the visual appeal of how you got around. The crowds spilling all over the area outside O'Hana and the bar area, sitting on the floor waiting for tables was a big turnoff. Though it was a Saturday, it wasn't an exceptionally crowded time of year like spring break or a holiday week and we wondered what on earth this would be like when you added a few hundred more DVC villa guests to this already bus-station like atmosphere waiting to eat. There was literally no where anyone could have sat down for a few minutes to take in the aura even if they'd wanted to, or enjoy a cocktail at the bar...every bar stool and chair and floor around the chairs and space against the wall was covered by impatient looking people (mostly harried-looking parents with understandably antsy kids).
When we looked at the pool area, it seemed more like the caliber of theming you see at Wisconsin Dells-after all, in fairness, this area was created with designs and materials that were top of the line the 70's but not too impressive now despite refurbs over the years. It is still NICE...but not what you'd expect for the prices these DVC units are going to cost. Of course we have no doubt the DVC units themselves will be gorgeous and new, but the fact is everything else about the public areas and restaurants, pool bar, etc. are around forty years old and built on a much smaller scale and I can't see there's room to expand too much to relieve some of that congestion.
We still think it is a lovely place to visit for the luau and to take in the views of the Magic Kingdom and the grounds are attractive, but we won't be buying there. We will likely spend a night there pre or post-cruise or something like that just to have done it, but we were so put off by the crowds and the noise (70's acoustics) that's just a factor of too many people in too small a physical area. Of course we experience crowds at our favorite DVC properties, VWL and AKL, but they're a bit more graceful at absorbing large numbers of people. I think everyone who is a "lifer" at Disney has recognized the crowds just seem to grow and grow and there is no longer any appreciable slow season. So while going to Disney is going to invariably include sharing your experiences with bigger crowds than seem tolerable, there are strategies to minimize the unpleasant parts of that based on what parks you visit and when, and how well the place you stay absorbs masses of humanity.
That's the beauty of DVC, though...I'm sure there are plenty of people who love the Poly as-is and will be delighted people like us won't be competing for points with them too often!
And based on the points charts for VGF, I feel like you will need quite a few points to stay there for a week. 
Bill
