I find respawn points work very strangely. Usually they will just send you back to where ever you came from, regardless of whether you're standing 20 feet away from another one or directly on top of it. That being said, it will sometimes send you away into the middle of nowhere. The only exception I find is if there is a respawn point, and there are enemies close enough to start attacking you as soon as you respawn, you will end up there.
So in my (cynical) opinion, priority seems to be camped respawn points, followed by wherever you came from, then respawn points you never knew existed, and lastly, the closest respawn point.
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