When you say "break even point" are you referring to when you actually save $150 which is the cost of the TiW for an AP holder? The TiW discount is 20% off everything and adds 18% gratuity.
AP discount at nearly every restaurant that accepts it is 10% does not add the gratuity and does not include alcohol
Boathouse and T-Rex do not accept TiW and give an AP 10% on food and non-alcholic drinks
Teppan Edo does not accept TiW and only accepts AP discount at Lunch 10% food and non-alcoholic drinks
Character meals:
Lets try to compare apple to apples
CRT for a party of 3@$67/per adult dinner.
TiW: $160.80 plus tax $10.46 plus tip $36.18 = $207.44
AP : 180.90 plus tax $11.76 pus tip $30.66 = $211.56
So eventually it will add up
Hope this helps. BTW I always use TiW
From the Disney website:
Unless otherwise stated, discount excludes alcoholic beverages, applicable tax and gratuity, and is valid for the Passholder and up to three (3) Guests. Dining hours vary by location; inquire at time of booking. Locations and operating hours subject to change without notice.
1Discount is not valid on previous purchases or on purchases of ticket media, gift certificates, Disney Gift Cards, Park admission, Arcades, Disney Dollars, tobacco, alcohol, outdoor vending (e.g., in-Park balloon vendors, glow vendors), Add-a-Dollar (Wildlife Conservation Fund), postage stamps, rentals (e.g., strollers,
ECV), personalization, Disney PhotoPass+, Disney PhotoPass® Online,
Disney Store Online, framed Disney Dollars, Artist Sketch Program (original art), original or consignment art, newspapers/ periodicals, videos, DVDs, CDs, sundries, pantry/prepared foods, digital/video/disposable cameras, film, consumer electronics, Titleist® and Cobra® golf equipment, National branded fragrances, treatments and cosmetics, Lladró, Armani, Hummel, Swarovski® Crystal, Walt Disney Classics Collection, select collectible originals, select specialty items, handmade items, special orders, purchase-with-purchase offers, Bibbidi Bobbidi Boutique and The Pirates League packages, shipping or taxes, or on phone, email, online or mail order purchases. A valid annual pass card and government-issued photo ID must be presented at time of purchase to receive discount. May not be combined with any other discount, offer, or promotion. Discount is for personal use only and may not be used to purchase merchandise with the intent to resell the merchandise.