You are paying $450 for the 24,000 points you save. This values the points at $0.01875, less than 2 cents per point. You can usually get much more value than that out of your points so it would be a good deal to pay the money if you have it. C&P is very often better than just using points. One big issue to consider is that points devalue from year to year. If you're not going to be spending the points quickly, then don't save them for a long time. Don't use C&P and just enjoy them.
For example, the Sheraton Kaui is over $300/night with tax. A 5 night stay would cost $1200+ (with the 5th night free deal). With C&P you get it for $450 - so 24,000 points save you over $750. Your points are valued here at $750/24000 or 3.125 cents/point. It would be better go go twice to Kauai and pay $450 each time than to get one visit free and then pay $1,200 for the second one.
