Never a good value to use points for
DCL.
You better rent out your points (or transfer) and then pay for the cruise by cash.
I am probable one of the few people on this board that will tell you that it can be a good use of points, but there are limitations to those times:
1. If you bought your points early in DVC (before '02). I have found in my research that after '02, the price per point that DVC charged does not fit well when converting to DCLs prices.
2. You do not want to bother with renting points nor can stomach the possible problems that renting can encounter.
3. If you have points that will go to waste if not used and you do not want to deal with renting.
I have taken 9 DCLs, 4 of them paid for all on points and on 4 at least one person on DVC points, and on two of those eight used points to book multiple rooms. The one time I paid cash for a room the price was $100 per person per day.
I find that with my DVC points and the price I paid for them back in '93 & '98 (paid within $1 for all of my points), that when taking in all the things on a DCL it can be a good value:
international travel
ship
recreation
entertainment
port taxes
food
When compared to a DVC stay at one of the WDW resorts you still pay OOP for:
entertainment
food
parks
and you do not get the international travel