You're getting good advice here. Keep reading and make your decision based on your particular, anticipated travel plans and desires. If they include onsite WDW trips every 2 years or so, consider DVC with just enough points to bank/borrow and get that. If buying elsewhere, buy a good resale price and enjoy the trading! Plenty of people own both, more than one.
Timeshare accommodations are generally more spacious and have different amenities (kitchen, separate sleeping rooms, usually more activities but no daily housekeeping or room service) than you'd find in hotels and B&B's so you have to decide when traveling which would suit you.
IMHO, families with children and/or where people need more than one room for sleeping benefit the most from timeshares. I know couples who like timeshares or suites because of very different sleep habits or special dietary needs.
Captain Midnight, there are plenty of hotels, B&B's and apartment complexes much older than 42 years all over the world, which are lovely and beautifully maintained. Look at the Concierge Collection, as it includes many. We can't assume that because a property is a timeshare that it would be run down in 42 years or 50 or 75. There are also 5 year old properties that are already showing the signs of poor maintenance. It all depends on the owners and their management. Disney doesn't have the only corner on that market either. Just a thought.