I like to book everything separately. I know that I will be going to WDW nearly every year, so having an AP is a given and I am not worried about having it in advance. We get at least 2 trips out of each AP so it works well for us. The actual date that we are going, however, has to remain flexible for as long as possible so we book room only with discounts. That way we are able to cancel/change as late as 6 days prior with no penalty.
Also, we do not find any value in the dining plans offered. We have done the math and have not yet found any way where we even break even with the dining plan. (There are only two of us and we usually stay deluxe) WE simply pay OOP as we go. We eat what and where we like, often in buffets with characters and in the nicer table service restaurants. We still save money by paying OOP.
Those 'free' luggage tags aren't worth the extra money spent on a package that has to be paid in full 30 days before we arrive! Not for us, anyway. I simply buy great Disney luggage tags in the shopping centres near home. I have found some really cute ones for less than $5.00.
As another PP posted, you get the same DME and luggage 'help' with either a package or a room only reservation.
It all depends upon how you do things and what is important to you. We need flexibility until much closer to travel than thirty days and we don't mind a little effort to save $$$ on a trip. We wouldn't be able to go nearly as often otherwise.