I have owned through APVC for the past 7 years (one of the earlier owners).
We bought into it after relatives in the US raved about their timeshares and how good they were.
It is points based and they have many properties around Australia and New Zealand. The points are also good for Accor hotels in the Pacific and Asia once a year.
The properites are always clean, modern and well equipped as many started through having apartments in hotel grounds. Most timeshares in Australia (apart from APVC & Wyndham) are a lot older and not as fancy.
The only down side is that many are away from any transport, and for us, many hours drive from Sydney. They are great for people with small kids but my kids found they were quite bored with the locations as they entered their late teens. We tend to trade more as a result but do get some awesome trades due to the trading power.