I have been getting emails like crazy about these rumors and a few of these subjects are things I have discussed with people at the Polynesian for years and just today asked more about what is going on. Here is what I know and have been told.
First off they looked into DVC years ago and decided that there just is not enough land to think of building DVC. They considered taking one of the buildings (I believe Tahiti) and make it DVC rooms but then decided against it. As of right now they Polynesian is saying that DVC will never happen. They are still saying that today.
Now as far as asbestos from what I remember they removed all that and did work on the buildings back in 2002 (you can see the photos and history on my site
http://www.tikimanpages.com/tiki/polynesian-history/aughts). I walked through some of the buildings and talked to the guys and they had the rooms gutted. This was before the redesign, in fact after they were gutted they rooms had all new stuff put in them but with the same look and design as the late 90’s. the new design rooms did not happen until 2005 where they again removed all the hard-goods and replaced them with the new design leaving nothing from the older design.
As of right now they are saying there is no plans for closing down or tearing down a longhouse or the whole resort. There are some issues with the GCH and they are considering tearing down that building but for now I can’t share any more details and from what I am told it will not happen any time soon.
The only near-term plans are the pool they are redesigning now and there are plans to redesign the rooms in the Tonga building (suites).