Things have changed with Wyndham. I haven't posted in a long time because so much was happening to me with Wyndham and I was getting so frustrated that it literally consumed me and took away from the time I had with my family. However, I've learned now that I cannot win against a large corporation and I have to "roll" with it. I used to not take reservations that I knew had to be someone's "cancel and rebook" because I figured that they were probably just trying to save on points (after spending big bucks to become platinum) and hoping to take more vacations with their families. I wouldn't want to be the one who made it so that some father or mother or grandparent lost the families' room that they were counting on for months. However, I realize now that most of these rooms will not come back (its obvious that a new system has been put in place) and anyone cancelling now to take advantage of the old system is doing so with the full understanding that they will likely lose their reservation. So now I don't mind so much.
For my own stays... I either book within that 60 day window and be happy with what they have available, or pay the full points cost and don't risk the loss. For rooms that I'd like to rent out. I will most likely attempt the discount, but never if someone has pre booked something and is counting on the vacation already. However, I would say that its not worth the money to buy from the developer anymore, because its very unlikely that someone is going to get a great (25%, 35%, or 50% off) deal with enough to spare to plan a vacation. Save the money and with the $150,000-$200,000 savings- pay someone else to rent to you or pay full price for reservations made with your deeply discounted resale points.
Just for the record- Our family of 7 just returned from an almost year long trip where we stayed every night at a Wyndham. We started in Oahu, then Kauai, Kona and Maui. We were still able to get the discounts until we hit Maui, where reservations didn't come back. Then we went to Australia and New Zealand (Coffs Harbour, Surfers Paradise, Cairns, Sydney, Tasmania and Wanaka) where we had to pay full points because reservations did not seem to come back after being canceled. We are currently in Anaheim and I have been able to book the entire stay last minute (getting it for 50% off). So sometimes it works, but I sure wouldn't chance it unless I had a back up plan.