Jo-Anne - You're very welcome. Reading your response, though, I was just struck by something. I'm assuming that the prices I was given are for Annual Passes rather than Premium Annual Passes, which I think you're also assuming, too, since you were thinking about water parks, but I didn't actually discuss it with the CM. I'm not sure how much more the premium passes would be, but I suppose they might be worth it. I'm debating this very issue right now, too, but at least I have 2 plus options left over from our last trip.
When you buy a new annual pass the start date is the date you have it activated at WDW. The problem is when you renew your AP (at a slightly lower rate than buying a brand new AP) and it activates the day after the old one expires. HOWEVER, there are two things I've read about on some of the other boards here on the DIS. First of all, apparently a few people were not given a full year on their pass, and found out the expiry date was less than 12 months in the future, so if I get one, you can be sure I'll be checking that. Secondly, in a few cases people have bought an annual pass that has been activated back to the purchase date of the voucher. I believe they've been able to fight successfully to change it, and it seems to be a fluke, but I was a little concerned when I read that.
I think the
Disney store at Orlando airport is supposed to sell APs - actual passes rather than vouchers, but I haven't tried to confirm this yet. I thought it might be an option, though. If I can find any of those threads, I'll post the links for you.
I guess the difference of $65 CDN or so between an AP and 7 day hopper plus pass would be well worth it if you could get AP rates at one of the Disney resorts. It would pretty much pay for itself in one night, that way.