We're RCI Weeks so I can't speak specifically to booking through Points, but I can give a few general ideas...
As far as I know it's only 7-night reservations that you can book, with Friday, Saturday or Sunday checkins. With Weeks we could start an "Ongoing Search" that essentially put us in a queue for anything that would deposit into the RCI system on the Weeks side. The Weeks and Points are separate inventories, though it always seems like Points get them first. DVC hasn't been depositing inventory into RCI until 4.5 to 5 months out. If you're farther out than that, it's a waiting game. If you're inside that, I'd at least have alternate accommodations lined up.
The other big thing to know is that 99.9% of the time you're only going to see 1-bedroom units deposited into RCI. It's been 3+ years since DVC deposited 2-bedroom units into RCI. (I think our November 2015 exchange was one of the last 2-bedrooms)
Those 1-bedrooms also typically require quite a bit of trading power/points, especially in the busy season.
Also, most deposits are at Saratoga Springs. Some are OKW. And then you see a smattering of other resorts once in a great while, but at least on the Weeks side those are usually snatched up by long-standing Ongoing Searches and never make it into the openly available inventory pool.
Lastly, I presume it's the same with a Points reservation, but be prepared to pay a fee to DVC upon checkin. It used to be $95, but last year they doubled it to $190. It's officially some kind of "cost recovery" for DVC working with RCI to process the exchange, but some just look at it as a "because we can" fee. Originally they charged $95 to incoming RCI guests, and $95 to DVC owners who were exchanging their week out of DVC into RCI. But they decided as a perk to DVC owners they'd eliminate that fee for DVC owners, but they did so at RCI exchangers' expense.
Going forward I'm not sure if we're going to try exchanging from RCI into DVC again. I admit that even with only getting a 1-bedroom at SSR we're still coming out way ahead compared to what we'd pay to rent DVC points through a service like David's for similar accommodations. (In fact, for the time of year we typically go, if you add up our maintenance fees at our home timeshare resort, the RCI exchange fee and the DVC fee, we're getting a 1-bedroom for about $300 less than we'd pay to rent a Studio through David's)
But this last time was very nerve-wracking. We had our Ongoing Search running since January or February, hoping for anything during Food & Wine Festival. Nothing was coming through for a long time. I believe it was the end of JULY that we finally got a match for a 1-bedroom at SSR the last week of October... Three months out was cutting it way too close for my taste. So maybe if it works out again sometime, but I think my next couple trips we'll either rent DVC points for a Studio, or if we have friends coming along see about splitting renting points for a 2-bedroom.
-Rob