JimmyV explained it pretty perfectly. My knee-jerk reaction to the loss of FP- was that we would not be back for a good while, at least 4-5 years. We are a family of 10 (and also take grandma and grandpa with us) so staying onsite is crazy expensive. Our trip last month was a splurge, with a 2 bd and a studio at VWL for 10 nights, but not something we can financially maintain every year.
FP+ did translate to less rides than we experienced in our 2012 trip. We were there during the changeover at MK so it wasn't just a speculated difference - we actually experienced it both ways in real time - on Sunday we had paper FPs and rode everything we wanted as many times as we wanted with minimal waits. My DS4 rode BTMRR for the first time and was blissed out, shouting "Let's do it again!" Best moment and I was thrilled to say YES and go grab a paper FP, then do a few other rides and come back. On Thursday FP was gone, and so was my YES - I had to explain that we had just used our one FP+ for BTMRR, the line was 45 min and we had a dining reservation we couldn't miss (I left out the part about getting charged $120 if we decided that our 4 year old's joyful spontaneity should be embraced LOL!) and honestly, some of my kids with special needs couldn't make a 45 min line. Lucky for us, we had 2 more MK days after that so my little adventurer got to ride that puppy a few more times

We adapted to FP+ by going slower, taking breaks and hanging out at the resort, spreading out ride repeats.
So...our conclusion was that we still got to do everything we wanted, and everything we could do with paper FPs and planning and early rising, but it took more days to do it. And more days = more money. Especially for a family our size.
And so, FP+ has pushed us offsite. Our choices would be to stay onsite for 10 nights every 3-4 years, stay onsite every 1-2 years for 5 or 6 nights and get less of an experience than we got previously, or stay offsite 10 nights every 1-2 years and still get to do all the rides/repeats and shows we want to do. And hey we get to save some cash on food too and say goodbye to a few $120 cancelation decisions! For us it was a no-brainer, for Disney it's losing $5k every 1-2 years or $8k every 3-4 from us.
Good thing the mouse has got some deep pockets - that's just peanuts!
