The Grand Californian - worth the $$$?

I own at BWV but have stayed at VGC 5 times. The first 2 times I got studios for the dates I wanted in early May or late September. The last 3 times I wanted the Sunday to Wednesday nights before D23 and Wednesday was not available for a studio. I booked 1 bedrooms each time. I did waitlist a studio but it didn't come through.
 
The studio units book out ahead of the 7 month mark, especially for popular dates. These are the most cost effective rooms based on savings compared to booking direct with Disney. If these are what you want, it definitely pays to buy in at VGC. If you prefer the size (and expense) of the 1 or 2 bedroom, then you will have more luck booking at the 7 month window with points from a lower cost resort.
 
We just came back from a weekend at VGC in a studio for the first time (lucked out and booked via last minute stalking a couple weeks ago using our resale SSR points) and loved it! The location can't be beat and we just love it overall. Since we're within driving distance we were also considering whether to add on a resale VGC contract since we tend to go to DLR several times a year. However, there are so many non-Disney hotels in the area that are a short walk or shuttle ride away from the parks that it's not nearly as important to us as it is at WDW. The point chart is also quite high compared to many WDW resorts. I think buying at VGC is worth it if you can plan ahead and absolutely want to stay there whenever you go, and especially if you want to book studios (although the larger rooms seem to book up quickly there too). We chose to buy WDW home resorts for now since the resort matters more for us for those longer stays, and less for the short 1-2 night stays we do at DLR.
 

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