It has changed our vacation so drastically that we are letting our APs expire and will not be going as frequently. We have a friend who gets us F&F, and even with that, we will be going less.
Why? We have gone so many times and so frequently that we used WDW as a quick and easy/relaxing weekend getaway or a place to go and relax for a week. We got on whatever rides we could using the old FP system, and if we missed something, well, there was always next time. We got up each morning and decided what we wanted to do that day.
We've been using the system since they first started rolling it out (we're up to 11 MBs each

). What it has done was forced us to pre-plan every single day or risk not getting on the few "must do" rides we always did each trip.
Even dining reservations have become problematic, as often they interfere with the times we normally would try to get on a ride. The 1 hour window makes it difficult to schedule a meal between getting on a few rides. EC is the most problematic, since we generally only go there at night. With fewer rides we want to get on, and the inability to make FP+ across the parks, we're stuck with selecting rides that don't really need FP+ just so we can get on Soarin'.
If anything I'm now stressing out because I constantly have to look where I'm supposed to be and make sure I don't miss those rides I had to plan in advance. Previously it was just meals, and not even that many, since we always ate OOP and sometimes had quick service for dinner.
Our upcoming 10 day trip (yes, it's usually for 9 or 10 days with 3-4 weekend trips scattered throughout the year) is probably going to be the last trip of that length for quite a while. This year, instead of another trip to Disney we're going to Hawaii for the second time this year. Yes, other places are going to be getting our annual repeat business.
We still love the place, but until they make some improvements to make it less rigid, we will be going elsewhere for longer trips.