Gray,
It depends on how you look at it.
Personally I look at DVC as pre-paid vacations. I had a windfall and bought DVC (220 points resale) , there is no way I would have invested that money for 42 years!! Now I have accommodations at WDW and all over the world for the cost of my dues per year. Or if I'm being really concientious:
(Purchase price:no of points): 42 + dues per point = price per point.
There's no way I would pay $200 for a hotel room, but my points are paid anyway!! I'm sure if you want to you can get anything and everything cheaper.
We're definitely planning to do trades through II, for the points I'd use at WDW + $75 I can get premium accomodations in wonderful locations. I've done one trade and got a studio in Marbella, Spain for 98 points (upgraded to a 1 bed on arrival).
Probably this is partly because I am in Europe, there are also a lot of other places I still want to see, and although I love WDW I can't see myself going every year - DH wouldn't let me
For me it's also the peace of mind, I know I'm going to get great accommodations with one phone call. No looking for the right price, location etc. just one call and I'm set.
JJ Penguin