Bellesgirl, you have described my experience to a "T".
I settled for something different from where and when we usually go, just to use our deposit. This was for our first exchange, and the guides tend to remind me of how ridiculous my past expectations were. For instance, I told them I wanted a king bed in the master bedroom on Maui, which basically took Kahana Falls out of my search criteria (on purpose), and they keep reminding me how I limited the search by that one thing (my search criteria was for several consecutive months), which is why I didn't get the exchange. I didn't want Kahana Falls, but any other resort on their list would have been fine for me, and I gave them several months to get me something, and I didn't expect high season for that exchange, but I wanted a 2 bedroom, and those are obviously very rare in SFX inventory.
Then I had friends who were going to Hawaii for Christmas and were looking for a hotel at a high price, so I called at the last minute, just to see if they happened to have anything, so one guide emailed me recently, telling me how limiting I am in my requests, expecting Christmas at the last minute!

I wasn't EXPECTING Christmas, but I thought if they had it, I would get it for my friends with my deposited week that had produced nothing in my ongoing search. Ironically, I did get a week for them through a last-minute rental from another exchange company for their exact dates.
If they had a search feature, you could scan their availability for the next few years and see if there is anything you hadn't thought of trying. As it is, you have to say to them, "Do you have Nashville or Williamsburg? Okay, so what about Wisconsin for anytime May-September? What about any Hawaiian island for 2011? Okay, what about something in San Francisco for any month between February and June." (SF is one they can do. I deposited a 2 bedroom Hawaii and I get a 1 bedroom in SF, which was okay by me, since we have relatives there that we haven't visited forever.) It's not easy to guess what they have that you can use.
And you are right, there are many people who really love SFX, but so far, my experiences have been so-so to not good, and we have a Platinum membership that is due to expire in a little over 3 years. Will I renew? Doubtfully, because my current request has already been given the "doubt it will come through" estimate. I am asking for something very difficult, so I won't hold it against them, if that particular request doesn't come through. For a five-year membership, I just wanted five exchanges that I would be thrilled to get.
RCI and II have usually come through for me, and I have never deposited a 2 bedroom Hawaii Gold Crown week with either of them, ironically, but that is what I deposited with SFX. I hope for a better experience in the near future. I want to sing their praises, but so far, I cannot.
I am VERY WELL AWARE that SFX watches posts on this forum. I had emails from the "powers that be" from my last tirade on TUG about SFX, the weekend of Labor Day. I think comments like this might hurt my chances of getting some good exchanges with SFX. I hate to think it, but I believe it. Rick thinks I am goofy for joining SFX in the first place, but I had very high expectations, and those have not been met in any way.
We are definitely getting to the point where buying where we want to go is preferable to exchanging. I want Maui for two weeks EOY. We are going in 2012 again to Maui and have 2010 already planned. So we bought an EOY even oceanfront (literally a stone's throw from the water) Maui week, 2 bedroom, very average resort. We are thrilled with the purchase, and we are looking forward to some great whale-watching trips in that unit. I can pay a lot of the maintenance fees with the savings on exchange fees and membership fees to alternate exchange companies. For Kauai and the Big Island, we have Wyndham points.

I just need to find another oceanfront 2 bedroom for Maui, EOY!
Now Wyn has a SF resort, too. I am covering the "buy where you want to go" with those Wyn points. I am loving those points more and more.