I belong to the Registry Collection...but not through Orange Lake. I joined with my Four Seasons ownership. I have an exchange into a prime summer week at the Teton Club in Jackson Hole for this summer. I am really looking forward to it.
Based on my experience, I would say that the Registry Collection is very expensive and availability is definitely limited at most of the resorts. On the positive side, they do try to offer very good customer service. Depending on where and when you want to go, you may find it to be an acceptable value...or not. One of the worst aspects of it is that there is no "request first" option. You have to deposit your week and then hope that you get an exchange that you want.
Steve