A regular annual pass costs $403.64, including tax. This pass includes admission to the MK, Epcot, MGM, and the AK.
A premium annual pass costs $531.44, including tax. This pass includes admission to the MK, Epcot, MGM, Epcot, Pleasure Island, Typhoon Lagoon, Blizzard Beach, and Disney Quest.
You can save big bucks on hotels (I'm saving almost $400 off of rack rate for a five night stay at the POFQ--it's about $70 cheaper than the rate I got with my Diseny Visa). You can also use it for savings on merchandise at the World of
Disney Store, guided tours, dining at some locations, and other things. I find that the savings tend to pay for most of the AP if I go a couple times during the year. It definitely pays for the extra expense of the pass, anyways.
Hope that helps
Karen