If you are local I see renewing the AP as normal mode. You couldn't ask for better entertainment year round.
Now, for most us we need to use a different strategy. If you have time share there, then I would say most will renew. If no timeshare, then I think you space your trips by every other year or longer depending on what you can afford.
If we are in the Disney mode, then we at least plan two trips and maybe a third one in the same AP year to get good use of the AP. I think the best way is to get them late December and go for Christmastime in one year, then use them the next year, as often as you can afford them. It's like getting them for two years, sort of, if you space them that way. When you consider the resort discounts (hopefully), this becomes a no brainer to get Disney APs. In fact, we get them for all the major parks there when we do our pilgrimage of Orlando. It only makes sense because it's so economical.
I can't justify year after year vacationing here when you are not a nearby resident; unless, you are among the elite who probably take multiple vacations all year long. As much as I love Disney, it's rare that the entire family will feel the same way about going there constantly when you don't live there; so, you need a break.
With all that said, if your entire family are diehard fans, then I would get APs every year until you get tired of it. It's still the best deal out there for multiple trips.
