We bought in to the vacation points program last August after stopping by during a week-long dive trip with a local (FL) dive shop. We were staying in downtown condos that trip and spending too much time on a slow dive boat each day. So far, we're happy with the purchase.
We spent a week in a beach front, 1st floor, Jr. suite in mid-December 2004 and in a 2nd floor Jr. Suite in mid-January. Both weeks we dove with Sand Dollar Sports and had no complaints. In late May we're going back and will have a 3rd floor Master Suite--Jr. Suite and connecting Studio Suite--with some family members. My only real negative is the noise from other units--especially from the upper floors to the lower. That's why we're going for the 3rd floor in May.
The food is basic buffet fare, but there is good variety, all you can eat quantity, and good, not great, quality. The suites have in-room small refrigerators that are stocked as part of the all-inclusive fee. This includes water, soft drinks, and beer--XX or Sol, no Coronas.
Our suites have all been clean and the maid service has been timely. Of course, we dive in the mornings and they service the room while we are out. I tip a few dollars daily, which certainly doesn't hurt.
Overall, with respect only to the Villas portion of the operation, we are happy. They are adding two additional buildings of Villas--one to be opened by June and another that hasn't started yet. They are also planning a member reception area and a convenience store. Those are probably 2006 items.
The adjacent dive operator is Sand Dollar Sports and we've had good service from them. Their normal two-tank dive fee is $60 US, but members get a 20% discount that drops the price to $48 US. It does appear that other dive operators stop at the pier to pick up and return divers who choose not to use Sand Dollar.
Again, this review applies only to the Villas/Suites portion of the Reef Club, but overall we are happy with them. Now, if we could just get the airfare from Orlando or Tampa reduced, it would be even better.