howie-before discovering this board, i thought you always had to pay rack rate for resorts, if you could even get a room! little did i know...
for our february trip, we bought annual passes for the purpose of getting the annual pass discount at asmu. it was value season, and we only paid $49 a night. while we were there, we got a door hanger with the 'comeback offer', which was 40% off rack rates at any of the resorts, before 12/31/03, as long as you booked that trip before you left this one. the offer expired in march i think, and the catch was that you had to book while at disney. we initially booked po-r for december, but due to blackout vacation dates at work, i had to change the dates. at the same time, i considered the money spent on room, and how little time we actually spend there, and changed to asmu (ap discounts are more likely at music and sports, not as common at movies). i was lucky, i've heard that some cm's would not modify a 'comeback' ressie.
my advice is to keep a close eye on these boards, any discounts that come out will be promptly shared! annual passes are worth it if you will spend more than 8 days in the 4 major parks within a year (only one member of your party needs to purchase an annual pass to get the room discount), but annual pass discounts on rooms are not guaranteed-they are sometimes offered and sometimes not. but, there have been several discounts open to everyone over the last year or so, this is the place to find them!
good luck and happy traveling!