Yes.
However, there is no such thing as a "DVC Discount" related to any Annual Passes (No matter what Member Services says).
There are three separate categories (or price ranges) of Annual Passes. The lowest price range is for Florida Residents. There is a higher price range for DVC Members. And the highest price range is "Tourist", which is people who do not qualify for either of the other categories.
Regular and Premium Annual Passes have the same privileges, no matter which price range they are in.