For Machu Picchu, if you're limited to using points you probably can't stay at the Machu Picchu Sanctuary Lodge (Orient Express property). However, if you're willing to part with some cash, the hotel is literally 30 steps from the entrance to Machu Picchu. I stayed there with the wife in April 2010 and we loved it.

Best thing about it is if you're interested in climbing Wayna Pichhu you have to be at the gate of the park at 6am to get one of the 400 coveted tickets to make the climb.