The annual pass for WDW is a really great bargain, and especially so if you're a DVC member. With the current $100 discount for DVC members, taking two 10 day trips over a 12 month time span works out to slightly less than $20 per park/day. We couldn't be more pleased with the price and it makes quick trips into the park, let's say JUST for dinner, much less painful to bear.
I agree with a previous reviewer that the ticket is a bit flimsy but so far we haven't been able to *ruin* one. We have noticed however, far too many of them become de-magnetized too easily...a bit frustrating for everyone, guest and castmember alike.
In responce to the other post on here. I work at the Disney Store and I know that if you buy an annual pass there they are made out of the credit card material.
In comparing price it is a good value. My parents are each getting one because i'll be down there doing the CP for thanksgiving and christmas so they'll be down a lot.
The Annual Pass entitles you to unlimited admission for 365 days from the purchase date (except activities/events separately priced) to Magic Kingdom, Epcot, Disney-MGM Studios and Disney’s Animal Kingdom, as well as complimentary parking. At a cost of around $430, it really is a bargain if you are a regular visitor. It is often cheaper to get an Annual Pass than regular multiday tickets if you are visiting for more than 14 days per year.
Besides the value for money, an AP also gives you discount on merchandise, food, and resort stays.
My only gripe is the physical ticket itself. Instead of being like a credit card (hard plastic) ticket, its actually a reinforced paper based ticket, and will not really last a full years use. It isnt a problem, because you can get them replaced free of charge, but it is a little inconvenient to waste park time visiting guest relations.