guys, just make sure that you are clear on the fact that this is a new program and that the Passholder Best Rate Guarantee is NOT the same thing as AP codes! They are 2 separate things entierly. They have not said that ALL AP rate bookings must be made 120 days in advance nor have they said that ALL AP rate bookings will have a nonrefundable deposit....just thing this program has those terms. Yes, it's possible that they could make these policies apply to all code bookings, but I doubt it. I wouldn't be surprised to see a stricter deposit/cancellation policy in place on code booking but not necissarily nonrefundable. I seriously doubt they will say no code rates available less than 120 days out...they know passholders are more likely to make a last minute trip since they don't have to pay for new tickets. It is just this program where they will automatically drop your rate without you having to call that will require 120 day advance notice. I'm sure it's to identify what bookings will have a price drop. They know AP holders have been making ressies and intending to drop the rate for years, this will just help them identify some of those that will be affected by the rate drop in advance.
I agree that this is not perfect and there are lots of questions that need answering, just make sure you understand that Disney has not come out and said that this is the only way AP rates can be booked in the future or that these policies will apply to ALL AP rate reservations.