It is MUCH more affordable to be a WDW AP. The most expensive pass is $769, and that gets you into the theme parks, water parks, Wide World of Sports, the golf course, free parking, 20% off all merchandise and 45 restaurants (10% off some others), and Photopass downloads (and no blockout dates, which also applies to the pass below it). Also, every annual pass that includes the theme parks gets you free parking and the merch/food discounts, and the cheapest one (besides the Epcot only pass) is only $269.
When the boyfriend and I started to look into a Disneyland trip, we almost fell out of our chairs looking at the price difference.