Before you make any quick decisions based on rumor and speculation, wait and see how this all plays out in actuality.
I'm a PAP who goes to a park once a week. I completely understand how you feel. We did not renew our Tables in Wonderland card this year due to the price increase. We have already changed our eating habits and in just these few weeks of January have eaten more off property than on. We also have been making less impulse purchases since we lost our 20% merchandise discount.
In addition, there are a large number of us AP holders and many of us locals have Universal 2 park passes, Busch Gardens, Sea World and Legoland passes. I'm sure Disney has these competitor parks in mind too and would not want to lose us to them.
Oh, I'm not making any decision until I see how this plays out for AP holders. I'm just thinking about other options. As you said there is alot to do down there, besides WDW.
I too did not renew my TiW that expired in Oct and have no intention of doing so. Since some of my trips are solo every year and we can eat so much better and cheaper offsite, the price increase made it so TiW was just not worth it for us this year. I'll just be eating offsite more. I've always said I would never stay offsite, but this past Oct did so for the first time. We loved it so much that I'll be at Bonnet Creek in May and if I go back in Sept like I usually do will be there again. I can get alot more space for alot less money and will still physically be on the property. Disney finally priced me out. Why the heck should I pay Disney $149.00 a night (with a discount) for a moderate when I can get a much larger one bedroom villa with a fully equipped kitchen in a deluxe resort for $89.60/night and be closer to some of the parks than the WDW resorts? I love Disney, but am not happy with them at the moment. I just wished they'd give out all the details on this fastpass plus, so we could make informed decisions.