As long as you go into the "2-hour" presentation (which can easily stretch to 4-5 unless you are willing to say no multiple times--and forcefully) with eyes open and realize that the $695 hotel room could easily become the most expensive hotel room you'll ever pay for if you get sucked in, I think it's a great deal. The Hyatt Regency Maui is a great hotel near Black Rock in Ka'anapali. You should know that you're going to get a garden view room (most likely) and you won't have the option to upgrade. But at $140/night it is a great deal.
The hotel is next door and very nice . You can use the pool and join in activities at the vacation resort. I wish we had that offer. The presentation we went to last yr was not high pressure except we were staying at the resort in an oceanfront unit and fell in love. We were on vacation high and tempted but not enough to purchase . It was one of the lower key presentstions we have attended.
If you have 10,000 points total, you could do one night at a Category 2 or 2 nights at a category 1. Cash and point requires half the number of points, so 10k points plus $125 could get you a night at a category 5.