Whatever priority there is, only relates to unit placement, within the view type that you book.
For example, if you book a garden view, you won't get an oceanfront view, unless they're having to move you for some reason.
Its also really variable by resort and brand as well as the reservation system you use.
Eg some on Hilton Head rotate unit placement priority, irrespective of status. Some resorts are so heavily used by owners on their weeks reservations that status for club points stays is worthless for placement priority.
Some resorts have Ocean view units that have a view of shrubbery, some mountain view units have a good view of the ocean.
The general rule is that if view from the unit matters a lot to you buy a fixed unit week and use it. Most everything else is "subject too .."