I think the official name is "Enhanced FastPass" or EFP. A lot of people think EFP is very valuable. For some people that may be true, but I think in general it is overrated.
To get EFP, you must:
1. Book thru AAA
2. Stay at a DLR resort hotel at least two nights
3. Get at least 3-day tickets
If I was already planning to stay at a DLR resort hotel, I would probably book with AAA and get EFP. However, if I was debating between staying offsite or staying at a DLR hotel, and the EFP was the biggest reason to stay at a DLR hotel, then it is just not worth the extra price you pay.
If your trip is when the parks are not busy, then EFP will not help much because the lines will be short anyways. If you go when the parks are busy, the EFP cannot help very much if you get to the parks late because the FastPasses will mostly be gone. If you get to the parks early, then with a little effort you can get all the regular FastPasses you need (see my post on FastPass here:
http://www.disboards.com/showthread.php?t=885132). So EFP is overkill in this case.
The only benefit I can see is if you get to the parks 2-3 hours after they open. Then you can still get a FP for everything using EFP. But if you get to the parks that late, you are missing out on the short morning lines.