If Margaritaville St Thomas is what is driving your desire, you might look into picking up a resale contract there as another option. There's one on SMTN for $1 - just 105,000 points, though. Other possibilities would be resale contracts at the other Margaritaville resorts; I believe they allow you to book St Thomas as a reciprocal benefit as a non-VIP. If you decide to go the VIP route, you might look at either The Colonies or Williamsburg Plantation for 4 BR LO weeks as a resale option to maximize your flexibility. You can typically find those for about $1 as resales on eBay or a few other spots like the
TUG marketplace. The MF for a 4 BR LO is about the same for those as it is for Massanutten, but they are dual affiliated with RCI & II, so you can use them in either exchange system. They trade pretty well because they are both premier resorts in II; just look for an annual one between week 23 and week 34 to maximize the value by being in the high season. Massanutten works well, too - I have a 4 BR LO week there, but you're limited to RCI.
You can get a lower MF 3 BR week to use for a PIC Plus contract, but I like using a 4 BR LO despite the slightly higher MF cost. I have the option of PICing the whole thing for 254,000 Wyndham points, using it as a 4 BR week myself, using it as a couple of 2 BR weeks, or exchanging it as either a 4 BR or two 2 BR weeks. Since I own WorldMark as well, I can deposit it as two 2 BR red weeks there and get the WorldMark credits and housekeeping tokens.
One final thought - you didn't mention how big a unit you use there. Lately I've seen a fair number of studios there in RCI. If that size unit works for you, you might just try booking that through the Wyndham RCI portal or through RCI using a different TS. Really depends on how much you want to go there in the high season, of course.