Obviously, given it's location, one's experience is very weather dependent. We've been blessed, in that every time we've been at the Red Wolf Lodge at Squaw, the weather has more than cooperated and dumped literally feet of snow on top of Squaw Valley immediately prior to or during our stay. One further caveat; we are timeshare owners at the Red Wolf Lodge, so we've already "paid" for the use up-front, so it's been a great value to us, but that should be taken into consideration when viewing my "value" rating.
The accommodations are not "luxe" by any means, but it is homey, adequate and clean. The kitchen is usable, but don't expect large preparation area, granite counter tops, etc.
The building itself is vintage late-70's/early-80's, so the construction is ok, but clearly not "Four Seasons"; noise travels thru the walls quite easily, and in certain years, it felt like being in a college dorm from the noise (caveat: it was New Year's Eve!). Also, in prior years, we would be woken up by the sound of Squaw's operations crew plowing the parking lot at around 2:30-3AM in the morning.
With all that said:
1. We're usually so tired from skiing that noise in the building does not bother us.
2. Plows in the parking lot are a mixed blessing. It does usually mean that you're going to wake up to another powder day. And it appears that Squaw may have changed its operating procedures, as we did not experience this issue during this most recent trip, even though it snowed another 20" while we were there.
We bought the timeshare based on the location, it simply can't be beat. You are right next door to the kids ski school center, and about 40 yards from the Red Dog chairlift. And it is truly ski-off at the end of the day. If you're a skier, you already know Squaw Valley is one of the premier mtn's terrain-wise, and you can't beat this ski-on/ski-off location. It's a 100-yard walk to the base area village with shops, a small organic grocery store, and restaurants. Not having to drive comes in handy, when it really starts snowing. Oftentimes, the local roads are closed, sometimes for several days for avalanche control and plowing. You will be hi-5'ing yourself at that moment, if you're staying here.
The staff is always helpful and friendly (that's been my experience through 6 separate week-long visits). And they also do provide activities in the clubhouse for families. Overall, we haven't regretted getting this timeshare for a minute.