All Day FASTPASS?

[NYDisneyKid]

Hi Fellow DISers.
I was at a film convention this weekend and got on the subject of Disney World with one of the dealers there. He was telling me that a CM will come up to a park guest and hand them a pass (or ticket of sorts) that entitles them and family members to go to the front of any attraction or ride, all day long for the entire day. Now I know about guests being chosen to stay the nite at the castle ,but is this ALL DAY FASTPASS thing true too?
Thanks,, Danny

 

[seashoreCM]

This year (2007) a small number of people (perhaps a hundred per park per day) are chosen randomly and given a plastic "dream fastpass" with break off tabs, one per fast pass participating ride, and these tabs can be used any time during the day.

Disney hints: http://members.aol.com/ajaynejr/fastpass.htm