While I'm not an expert on packages, this is my understanding, and if I'm wrong on something, someone will come and clarify it.
I think it "used" to be more cost effective to book everything seperate....... with codes, etc..... you could save a lot of money. ( If you did it right....LOL)
Now, though, it seems as if Disney has "wised up" and the cost seems to typically even out. Yes, you can still get codes, and deals, and they may save you money. You have to crunch all the numbers to see if it will work for your particular situation.
As for the dining option, it is my understanding that the only way to get that is by booking a package. We just booked the MYW package with dining and hopping, since there are no codes to be had as of now, this is the most cost effective way for us........... we do not have
AAA either. We priced it out as to what we would eat on the dining plan and off.......... and while obviously we would save money without it, (eating hot dogs, etc.....) we priced out how much eating where we'd like to, and pricing that out against doing that without it, it is a substantial savings........ so, it just depends on how you look at it. What I mean by that is, if we didn't get the dining plan, which is costing us $420.00, we would NOT be eating at LeCellier for example........... we'd be eating a burger at cosmic rays............ so those who say you save money by not getting the dining, they are right, but you probably wouldn't be eating the same places/things either. At least we wouldn't. If you haven't yet, go check out mousesavers and allears, they both have extremely useful info.
I would say, if you do not have AAA, or find no codes for the time of your stay, I'd go with the MYW package. My DH plans, figures numbers, etc...... to the point of obsession, so while I may not be able to give more specifics, trust me, if he thinks the package is the right way to go...........(with no codes, or AAA) then it probably is........ LOL
I hope I helped a little bit........... I'm sure others will come along who are more knowledgeable.