I know the main difference is CWA is a "membership" as opposed to a deed. Not sure if that speeds up the transfer process, but personally, I prefer a deed. There are more restrictions on what Wyndham can or cannot do with my deed. A "membership" is not subject to the rules and regulations each state has regarding deeded property. As far as the MF, I listed some that are under $4 per 1k points. There might be more.
San Francisco-Canterbury $3.43
Pahio at Bali Hai Villas $3.45
Dye Club Villas $3.48
San Francisco Canterbury - Presidential rate $3.76
Desert Blue Standard $3.83
South Shore at Lake Tahoe $3.83
King Cotton Villas Presidential rate $3.94
Pahio at Bali Hai Villas Presidential rate $3.98
That's just a reference, but you will want to look at whats in the listing. Rates may vary depending on what programs they are signed up for. Also, keep an eye on the closing and transfer costs. The transfer cost for points contracts is $299. Wyndham sets that fee. The seller may contribute to some or all of those costs. You will have to confirm that BEFORE you agree to buy or place a bid on an auction. One thing you will want to think about. Places like Canterbury, or national harbor will cost more upfront because of lower MF. However, there are a ton of contracts out there that you can easily get for $1, but the maintenance fees are higher. The question is, if you choose to pay more upfront for the contract with the lower fees, how long will it take you to get your money back in savings? The answer depends on the resort. Let's say I have two choices on contracts to buy. Contract A cost $5000, and the maintenance fees are $1000. Contract B cost me $1, and my maintenance fees are $1500 a year. If I bought Contract A, it would take 10 years to recoup that upfront cost to make the low MF worth it. Personally, I don't see myself hanging onto my resale contract that long. I may decide to get something better later on down the road and will dump my $1 contract.
The others already addressed the availability question. It's all about Location, time a year, and how far out you are from your travel date.
Point costs varies on location, time of year, and room type.
Resale is not good towards gaining you VIP status, but as of now, if you already have VIP through developer, your resale points will be treated the same as your developer points for VIP benefits. That's subject to change at anytime.
Resale points will not get you to club pass locations. You have to get developer points for those. If you want to travel to the club pass locations, you would probably be better off buying contract resale for that resort or renting.
As far as renting versus owning a timeshare it really depends. If it's just you and your significant other, then you probably would be better off renting a room at a resort or a hotel room. If you have a family, and need multiple bedrooms, you might still be better off renting depending on the resort and how often you go. Some resorts cost more then others. If you are like me, where we do multiple vacations every year, AND a large family vacation every few years, then timesharing might be good for you. Our Family trip this year, will be with 27 people. We will need Three 3-bedroom rooms. Those would cost about $6k total during the week we are going. That was the cheapest rate I could find. My MF are just over $3k a year. Sometimes I let other family members use my points if they are traveling to a location with a Wyndham resort. You will have to make your own judgment call as to whether the added cost is enough.
One last thing you may want to consider. You may not need 500k points. Depending on how often you travel, when, and how big a room you need, you might be able to get away with a smaller contract which will cost less in MF. If you find you need more, you can always buy another contract. There is a ton more information to be had. Use the link Nicemann gave with the Wyndham directory. It has a lot of information about the program, as well as the room rates.
