Well, for one thing your photos are now accessible for 365 days with the option to download. Although it hasn't come up yet, but I suspect if you don't renew anything that's over the standard 45 days probably won't be downloadable.
The way it works now is you get the PP on your AP scanned (or enter PP number into your account) and the pics are available for download. You can also enter codes from ride photos and those are available for download too. Without a Signature AP or above your pictures are watermarked and disappear after 45 days if you don't purchase them. They stopped offering borders. You have to buy prints in the parks to get borders now. Prints are not included and CDs are no longer sold at all. It's all downloads now. One addition is that now you have the option of managing everything in the app, so you can see pics while you're still in the park. I've entered ride photo codes and had the pic in my app within minutes.