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Marriott owner....the old fashioned way. Will I still be able to exchange successfully with Marriott

I have red weeks at Grand Vista in Orlando and Fairway Villas in N.J. We've had good luck exchanging to Aruba and Hawaii (using 2BRs to get smaller units) by staying in Marriott Vacation Club system. Haven't tried since points system got going. What have been your experiences? Am I on equal footing or do the points folks queue up first. Does anyone understand how it works? We plan to put in for Hawaii again for February as we did successfully two years ago. Wondering how we'll likely fare..... Please share experiences, thoughts, recommendations. Thanks in advance. Jay