Ok, I'll try to help, but I don't know anything about military passes ....
We are Florida residents, and just purchased our APs this week. The thing you have to consider is how often you will use the AP to see which one is good for you. For example, we just found out that we won't be sending my daughter to camp over summer, and I won't be taking summer classes, so we will have a LOT of free time. We live an hour away from Disney, and even though I usually hate going in the summer, I figured even if we go for a few hours a week, in the evening, it would give us a break from one boring summer. What does this mean in the difference of the passes?
There is a Florida Resident Seasonal Pass. It has black out dates, and I'm sorry, but I'm a little lazy this morning and don't feel like hunting for the exact dates, but there is a two week window in April that's blocked out, most of the summer (From late May/Early June, I think - Until the end of Augustish) and two weeks at the end of December. Why? Because those are the busy as heck times, so they limit this pass. Also, with this pass, you have to pay for parking. While this may or may not factor into your budget, parking is $14/day. If you are using your pass while also staying onsite, this isn't a huge deal .. but for me, it was the deciding factor.
We went with the next step up, the Florida resident annual pass. It doesn't include the water parks ... just year round admission to the theme parks. The difference in the passes is around $150 (again, I'm lazy). So, I figured it out that if I was to pay $14/day for parking, I would have to use my pass 10 times to be able to come out "even" (this figure doesn't include the price difference in my daughter's pass, but shhh! I fudged the numbers to make it look better, lol).
If you decide to go ahead and do the monthly pay method, you have to put down the cost of a one day admission $85 + tax for each pass that you buy, and then they charge you monthly from therein. Our passes run about $55/month for the two of us. They charge the one day admission, and the first month in two separate transactions, usually a day or so apart. They don't charge interest on this account. There are perks with an ap as well.
Now, my boyfriend isn't a huge Disney fan (yet), so what we've decided to do is pick up a play for three day pass for him. Right now, it's running $99 for Florida residents, but it expires at the end of May.
All in all, it really comes down to how often you're going to use the card. Again, we didn't get the one with water parks, so that would be even more expensive. We currently have BG/Sea World passes (don't know where you're located, but they do a buy a day get the whole year free for Florida residents thing, which is a great deal, I think), and my boyfriend and I have Universal passes (we do a similar promotion for the monthly payment plan, but it's a lot cheaper than Disney). It's a LOT of passes on our end, and I don't know what kind of crazy pill we were taking when we decided on this, lol. We live about 30 mins from BG and probably go there the least ...which is ironic.