There is no one answer for all people. Depends on how many days or trips within the time frame, what other benefits you will use, if you also are going to get the DDE card which you can only get as a passholder or FL resident, things like that. Hope this is a little helpful info.
The way we make the AP work for us is to purchase them and use them at least one more time within the 365 day period. If you are DVC member and get the $100 off then it really is a no brainer. I will purchase the AP on 12/6/07 for my trip from 12/5-12/14. Then I make sure I go back the Friday after Thankgiving the next year and use it from say 11/25 to 12/3. This way I get a full two weeks out it and it is good for park hopping, the DDE if I choose not to get the DDP, and hotel stays if I don't have points or if the rate is so good I can't pass it up. I will most likely go back in the March- May 2008 timeframe as well to really make it worthwhile but that really is just another excuse for me to rationalize another trip to visit the cutest little mouse in the World.
We're going to buy ONE AP (for my wife) and then buy the DDE card in her name.
The rest of us (me, DD, and DS...youngest DD will be free) will go with the MYW tickets (7 days) with park hopper only. For this trip, that's going to be the way to go.
DDE discount is 20% on everything (including adult beverages) at a very wide selection of table service restaurants. The complete list can be found here: