I would venture to guess yes, as long as you can get the AP discount on the room.
You would have to take the cost of the AP minus the type of ticket you would normally buy for that person. Then take what you would pay for
AAA rate - AP cost of the room. Take the room savings - the increased cost of what you're paying for your ticket, and you'll see if you save any money.
Example based on this years discount and prices:
Courtyard room @ WL
7 nights at AAA rate = $270/night * 7 = $1890
7 nights at AP rate = $200/night * 7 = $1400
Difference = $490
Cost of AP = $420.68
Cost of 7 day MYW, with hopper = $246.94
Difference = $173.74
$490-$173.74 = $316.26 savings. Your savings will depend on what type of ticket you are buying though.
Don't purchase an AP until you have your reservation with an AP rate though. You don't need the AP to make the reservation, just when you check-in.
Here's more info on other discounts you would get with an AP:
http://www.allearsnet.com/pl/apass.htm