OK I admit these might be dumb questions but here I go.
1) in Orlando, is Vistana VILLAGE near, or adjacent to, Vistana RESORT? Is there much of a difference in the units or resort - - aside from the Voluntary (V) vs Mandatory (M) and the price thing?
They are probably 3-5 miles apart. VR is on 535, and VV is on International Drive (closer to Sea World).
VV is newer and the units were unquestionably nicer when it was first built. However, as with all cycles, VV has some sections that are now a few years old and probably starting to show wear, while most sections of VR are undergoing massive renovations.
VR is much larger, more activities, etc. (my daughter and her friends liked VR much better than VV when they were pre-teens and teens -- more places for wandering around, yet there was a pretty good sense of security as there are manned gates).
If you join TUG (good investment), you can read detailed reviews about both and see which one would be a better fit for your family.
2) It was mentioned in a previous thread that an owner of a V week (even a resale owner) could convert that V week to Staroption points if he also owned a M week (even if he purchased the M week on resale).
Not correct. You can retro a voluntary (or mandatory) resale purchase if you buy something from the developer, subject to rules that change every 15 minutes or so! There is no fee associated with the retro (it's $599, I think, but they waive it).
If this is correct is there a fee for this conversation and is it a "one time" charge or a fee every time you convert to points? I assume owners of M weeks don't pay anything to convert M weeks to Staroption points.
If you own a week that is enrolled in the network, you can give up use of you week (or part of your week if you own a lockoff) and convert to StarOptions at the 8-month mark to trade into another Starwood Vacation Network resort. There is no fee.
If you buy from the developer, or retro a resale purchase, you can also trade your week in for StarPoints which can be used at Starwood hotels (as opposed to StarOptions, which are used at Starwood timeshares). I'm not sure if there's a fee for this.
Many people on this board believe there is great value in retro'ing a unit. I've found that I get better trades through II -- but I'm no longer tied to school schedules and that makes a difference. I did retro a bad trader recently, but see no upside to retro'ing my good traders.