I think there are 2 different things.
The FunCard is good for the calendar year-meaning valid until Dec. 2008. It is unlimited park entry--for about the same price as a one day pass. It does not include free parking or any other discounts for food.
Then there is an anuual pass-about $100--that expires a year from when you PURCHASE the pass. This includes free parking and 10% (I think could be %15--not sure) discounts on food. It also allows for discounts if you get special tix to other Sea World tours. There is also an option w/ these to add additonal parks such as Busch Gardens.
Go the Sea World website to view the pricing and specifics.
I am actaully thinking of getting a FunCard for my family and only 1 AP for me so we can get the discounts and free parking.