I would personally love to own both DVC and SVO. I will some day. Both vacation clubs are great.
I believe that both DVC and SVO are timeshare point systems that I would ONLY own to use. In other words, I would not buy either of them to exchange. If you want to exchange, there are far less expensive options that will work just as effectively.
The thing I don't like about DVC and SVO is that they really do have only a very few options for staying at one of their resorts. SVO does a good job at weaving in their hotel properties into the mix. But, you don't buy a timeshare to stay in a hotel.
Now, let's get to DVC. I would say that the overall Disney experience is among the best in all of timesharing. What makes it great is how they have integrated the themes at all of the resorts to be part of the overall Disney experience. So, when you stay at a DVC, you feel like your are part of Disney World itself. To many, this "magic" is priceless. It's worth it at any price. There are many side benefits that DVC owners get like early park entry at certain resorts, free Disney transportation, charging to your suite, sending gifts to your room. In my opinion, these benefits are very minor relative to the overall guest experience.
So, is it worth it? The answer depends on what you care about. Disney can make sense under 3 scenarios. First, if you just love it and have got to have it at any price. I think more than 50% of DVC owners fit into this category. Second, you would stay at Disney hotels on property. If you do this anyway, it's a better value to buy into DVC. I think many owners fit into category 1 and justify their purchase by claiming they are in category 2.
Third, you buy for 5 years or less, you buy a ton of points, rent many of them, use the rest. Yes, that's right. DVC can earn about an 8% return on investment in a short time horizon. It won't last since DVC is a leased property that goes back to Disney in 2042 or 2054. So, the rental gravy train and rising resale prices can't last forever. Your timeshare interest could rise in value and sell it for a small profit. But, if you are pursuing this approach, plan to unload it in under 5 years.
Lastly, if you look at the actual accommodations off Disney property, you will find that there are some out of this world resorts that are just as good as Disney from a technical point of view. But, the prices are anywhere from 90% to 50% cheaper. When you look at Equivalent properties and determine the total cost of staying there vs. a DVC property, you will see that the cost of Magic is over $1000 per week.
Here's what I mean. I believe that the Marriott Grande Vista is as good as any of the DVC resorts. It doesn't have the integrated theme park experience, but technically, it is as good a resort as any DVC. You can rent a unit there almost any week of the year for less then $1000. I'd say you can reliably rent it for around $700-800 for a 2 bedroom unit. If you exchange in, you can get it for a lot lower.
To rent a 2 bedroom DVC prime time will cost you $2500. So, the cost of Magic is at least $1500. Is it worth it? For some yes, for many no. For me, it's worth it to stay at a DVC resort 1 time in 20. I am a value person and feel I can get most of the Disney experience for 1/10 the cost. So, I tend to choose to do that instead most of the time.