That's a question that is open to a lot of interpretation, and the lifestyle of anyone here might not match yours. Of course, it being a Disney Vacation Club forum, most people will probably (though not definitely) wax eloquent about the Disney Vacation Club. DVC does offer some flexibility that a lot of other timeshares can't or won't. But it tends to be more expensive than a lot of other timeshares, and the major caveat is, eventually your rights to the property revert back to Disney, unlike most timeshares where you always "own" a piece of the property as long as you keep paying your annual dues. Another thing to consider is one of space - most timeshares offer you larger rooms than Disney Vacation Club rooms (many of them being glorified hotel rooms with a microwave).
But if you're the type of person who thinks/knows you'll be returning to Disney quite a bit over the years, staying on-site is a very nice perk. Whatever you think of the "Disney magic," it is an intangible in which many people (myself included) find a value that means more than the size of the rooms or how well-appointed it is. You'll still have the option of using your membership to stay at various places across the country or around the world (though I think most people just tend to bank their points for a bigger WDW vacation the next time around and pay for a non-Disney vacation out of pocket), and it's ALWAYS easier for a DVC member to trade a vacation for one outside the DVC than it is for a member of any other timeshare to trade into a Disney vacation.
Other than that, I'd say talk to a Disney Vacation Club rep. Unlike most horror stories you hear about pushy timeshare sellers, the DVC reps are for the most part very low-key. Of course, they are in a unique position, selling something so many people decide they want at a location no one else can claim, so if you sit through a pitch and decide you don't want to buy, they're not going to lock you in a room and pressure you into a deal, because someone's standing over your shoulder, checkbook in hand. Don't be afraid to give them a call (or visit if you're in WDW or one of the areas where a DVC office is located).