If you are planning on using it for Hotel stays at the Disneyland Resort primarily then it is decidedly not a good deal.
If you plan to visit Disney World at least once every other year for the next 20 plus years than it is a great deal.
Those who bought their memberships back in the early to mid 90s have saw their origninal investments go up in value by as much as 50%+ I believe....and that's on top of the many vacations they have already taken. They could sell their memberships right now and realize a healthy profit in addition to all those vacations.
I do not own one myself but have been toying with the idea of buying in for about a decade now.....and kinda kicking myself for not doing it earlier.
Again, my advice is to hold out untill Disney gets a clue and creates a better California benifit... One it does, I think it will blow the roof off the program... But I think there is hesitance within the program because California property isn't cheap... And they would have to buy more land to really make it worthwhile.
I'm a DVC owner too. Don't forget, there are about 500 properties you can stay at, not just Disney. I've used it to stay in Washington, DC last year. Next year, I'm using it for Tokyo Disney, the Miracosta. I have friends that have stayed in Monterey, CA, New York and London, all on their points. We also go to WDW once a year on points.
Not me. I do manage to go to WDW 3-4 times a year (because it's only 90 minutes away) but I either do a day trip or if I can find a good deal on a hotel I'll take a Friday afternoon off work, stay overnight, hit the park(s) the next day and drive home that night.