I was wondering the same thing. We have plenty of plusses left on our old PHP's and I was thinking of just getting an AP and a DQ AP for our next trip because it's cheaper than the PAP.
I know it would be better to get the PAP if you wanted to do parks, waterparks, AND Disney Quest, but in our situations, the PAP doesn't seem to be the best deal, does it? Does anyone know if we're missing something?