New to RCI this year and so far happy. I have made some good exchanges with II but also have often been frustrated by lack of availability for where I want to go. As an owner of two Hyatt units, I am definitely into II and lately have gotten into some nice Marriott exchanges and others. I'm not so much of a beach person - much more mountains and cities and I've found success in both exchanges. I wish I could play golf. Last week I stayed at Marriott Desert Springs II and am heading tomorrow to Sedona (Hyatt) and Marriott Canyon Villas. Two golf course vacations and I cannot get a club to hit a ball despite serious efforts to learn!
I agree that you need to look at total cost: MF of unit or points you are exchanging, fees, and RCI exchange fee. I recently purchased a Grandview at Las Vegas which came with 98, 000 RCI points at MF $910. (It also came with 196, 000 unused points so I've definitely had some advantages when exchanging recently!) Here are some costs: one week in 1 bedroom at Villas de Santa Fe in August. It is Saturday to Saturday but will cover all the Santa Fe operas plus Indian Market for one day. Total, after MF, exchange fee, and "resort fee" will be $700. Walking distance to the downtown so I'm super happy with that. One week at a one bedroom at The Wren in Vail during Vail classical music festival. Walking distance to town and theaters. Total $600. 9 days at the District by Hilton Club in DC. $985 There is a housekeeping fee if you are there less than 7 days so not applicable to me. Location Georgetown close to public transport. 11 days at Hilton Club New York: 11 days Hilton Club (basically a hotel room I think) at $1280 (includes a $40 housekeeping fee.) These seem like great deals to me. Definitely The Wren and Villas de Santa Fe are only Silver crown but the Hiltons are gold crown and more importantly, they are located where I want to go at a time that is pretty busy. Not quite sure how to factor in membership fees here, but since there are several exchanges I think those are of minimal impact.
Also, though I haven't quite grasped this yet, I gather that Grandview is a Vacation Village property, and I get special offers for VV properties through RCI or VV from time to time. I can definitely see myself working on that in the future though most of them are not places I particularly want to visit. I agree that the exchange fee and points protection fee have become outrageous but I still think the overall cost to me to stay in prime city locations is a huge advantage. The thing that amazes me the most is that the points protection fee only gets me back my points. Unlike the e-plus with Marriott that allows me to exchange into something else if I cannot go or see something better of interest. In the end, it boils down to whether they have availability where you want to go when you want to go there in a facility that meets your minimal requirements for a place to stay.