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Yes but Tower 4 which is across the road from the beach is where all RCI exchangers get placed. So if you are looking for oceanview or oceanfront you need to own Wyndham or rent from a Wyndham owner, as RCI exchanges will not get you ocean whatever.
I stayed at Club Regency through an exchange last year and loved it. I couldn't wait to return. It wasn't luxurious but met our needs well. Every unit is ocean front and the location next to Surfside is great.
I rented a unit there this year and left early! The building is becoming more and more run down (similar to many that are in Myrtle Beach). Water on the floors in the elevators, dirty fans blowing in the elevators, nasty carpets in the hallways, doors barely locking, filthy garbage chute you didn't want to touch to open, etc.
I won't comment on the unit since it was a rental and not a timeshare unit. I saw two cockroaches in the kitchen (didn't see any last year in the timeshare unit). My opinion is that bugs in a unit mean they are in the building (we were on the 18th floor this time!). I was disappointed last time that the master bedroom window is so small since it could have had a beautiful view of the beach! The other bedroom window faced the hallway wall (some units don't face the wall; others do).
The beach has also become quite crowded since the new building next door opened. It was tough to find a spot that wasn't behind other people.
All in all I couldn't recommend Club Regency anymore until they put some time and money into cleaning up and renovating. I know it's difficult being oceanfront but they do have some down time in the winter to fix and clean.