The 99 prepurchase and the 125 post-trip purchase are fully editable with borders and signatures (see the last pages of my trip reports for examples). Both of them are actually ordered (backing up...with the prepurchase, you basically buy a code that they email you and you have to keep that email...then you order the CD when you get home) after you get home, and once you're done editing, you either put the code of the prepurchase in (which covers the shipping) or you just order it. My CD was mailed not even 24 hours after I ordered. Alas I ordered it right before Christmas so it got stuck in holidays and weekends!
And yes, the 59 is put right into your hand, but the only editing you can do is at home with photoshop or whatever. Might be best for hardcore scrapbookers who will embellish photos on their own, and who are good at photo editing on their own.
I agree that buying individually, unless you truly only have ONE picture that you want (and know you will never want copies), is a waste of money. And especially if you haven't seen the picture like you hadn't seen the castle picture...what a bummer!
If you take your kiddo to see Jack Sparrow on PL once or twice and there are photopass people with him, I can almost guarantee that even the full 99 will be worth it. Everything else is just gravy.

If he gets a pirate sword (or even a lightsaber, or even a lightsaber keychain like my guy had), Captain Jack has responded well to that, and will take the time to play with the sword (or lightsaber) and really interact with him. My guy hasn't even see POTC (other than ads, or what he's seen while waiting at Circuit City) but he knows and loves Captain Jack!
Also, at DCA you can do the "stitch is popping out of the ground" picture, and in front of the castle at DL you can do the "ooh tinkerbell is in my hand" picture. Be sure to ask for those!