Without a doubt, the cancel and rebook is a gamble. If the unit is RENTED and PAID for, I would be a total FOOL to try to skim some points back. And I would be a BIGGER fool to rent the unit below my cost, expecting to use the rebook with discount window.
If the unit is NOT RENTED, I might try to rebook it ... And my track record is, I have lost some reservations. Lost enough to know it is a total crap shoot & gamble.
When I first started in this timeshare, there were very few people who tried to cancel & rebook ... why? Because the cancelled reservations all showed up the NEXT AM ... not 20 seconds or 90 seconds later. No screen refresh - but after the inventory system reload from the overnight run. And the units rented for FULL point values. No expected discounts.