I upgraded to an AP with a bridged ticket (prior to the increase last year) and purchased TiW before the AP 20% came out and I easily made my money back in one trip. My group did some signature meals, Club Villain, Spirit of Aloha show, etc which the discount all worked on. I did plan other trips and go other times, but it is very possible to save within one trip. I honestly wish I had thought of it before booking my resort because I would have saved even more then!
Also, Memory Maker only allows you access for a limited time (45 days) and PhotoPass+ gives you an entire year. Could be nice for some.
And the current AP merch discount is 20% off most places, no minimum and the Disney Visa is 10% off $50+. Depending on what you buy, it can make a big difference!