If you have APs it is $60/yr; if you are a FL resident it is $85/yr.
You then get 20% off most table service restaurants. You can see a complete list at allears -- but, it automatically adds an 18% tip.
We used it for the first time during our Thanksgiving trip -- compared to the Deluxe Meal Plan that we did over the summer -- it saved us about $800.
Of course, we didn't have nearly as much food. No appetizers, few deserts.
We'd generally eat breakfast at our villa -- carry a snack -- eat one meal in the parks and another back at the villa.
It also give you a 20% discount on adult beverages.
We are thinking of trying the new CS Meal Plan that starts in January when we go this summer and using our TiW for any table service meals we want to do. This would keep us from having to do so many meals at the villa and we wouldn't have to carry a snack with us.
Overall -- TiW is a good value -- once you pass $300 bucks in food & beverages -- it pays for itself. You also get a little more flexibility. I have some "adult" kids per
DDP guidelines that were able to order off the kids menu using the TiW -- so that saved $ and made them much happier.
Hope this helps.