It all depending on how many vacations you plan on taking with the 88K pts. In general, 88K points will get you a 2 BR at a GC resort almost anywhere. There are some exceptions. For example, except for a handful of off-peak weeks, 2 BR DVC units are over 95K+ points for a week's stay. If you plan on non-GC or smaller units, 88K points can probably get you two weeks of vacation. Mid-week stays can spread them even further; a five night stay (Sun-Thurs) only "costs" 60% of the weekly value.
Last year I booked two separate vacations one in Aruba for my DDs and one in St. Maarten for my wife and me. They were each 1 BR and stays of 5 and 6 nights. Together they totaled about 77K points.
If you were planning on making use of the 9000 pt instant exchanges, be advised that these are weeks units with a check-in date of 45 days or less. They can be great deals, but availabilities may be limited.
Is 88K pts for $600 MF a good deal? At less than $.007/pt, it's better than the best lease
deal (which you may want to use to try the RCU Points system). There are deals out there at less than 1/2 cent per point, but now we're spitting hairs. The other factor is how much the unit cost upfront. If you get a great deal on the points and MF, but pay thousands too much for the unit, then the deal is not so enticing.
On another note, if you like SC, you can always take advantage of the 3 BR units for a "family reunion".
Also if you buy resale, be sure that your unit doesn't convert back to weeks in which case you have to pay to reconvert back to points.