I would say that if you can plan it in 2005 to go say July for a week, and then in 2006 in June for a week, you would get 2 trips out of your AP. Yeah you would then have to purchase DIsneyQuest, or PI tickets, but add up the cost of those tickets (keep in mind you get a small AP discounton PI and Disney Quest etc.. too).
ANytime you can get at least 2 trips out of an AP its well worth it. My family (4 of us) buy an AP each and then buy one day Typhoon Lagoon tickets as extras. I think we save like $20 total on the TL tickets b/c of the AP. PAP doesnt seem worth it for us, b/c we mainly go to the parks not the other places, but this year we have gotten (17 days already out of our AP and will get 5 more over XMas. It expires in May so maybe a Spring Break trip too for 5 days LOL! Hope that helped.