Yes, you'll get HGVC points but not GP membership.
I can't remember the pricing but we got an every other year Studio for $7900 w/3500 points. If I'm not mistaken, for yearly weeks they wanted $11K for a Studio (3500 points), about $17K for a 1 bedroom (4800 points) and about $23K for a 2 bedroom (7000 points). As an incentitive, we also got 3500 bonus points and $160worth of restaurant gift certificates. From what I hear, these prices are 'pre-construction' prices and will be increasing soon. The MF & taxes were a bit high if I recall.
If you're interested I can give you the info for the person at GPP that we dealt with. She was very knowlegable and no pressure at all.