I have both a WDW AP and a DL Magic Key. I live in Maryland.
These are factors I think you should consider:
1. Flight costs: I can get to California actually fairly easily. We can get non-stops to LAX, Long Beach, and Ontario. We can also get red eyes out of LAX. This is a relatively new thing and was a deciding factor; it used to be much harder because we had to stop and basically the option was LAX. For Orlando, we have 10-12 non-stops per day. I'm also only about 40 minutes away from BWI, and it's an easy airport. I have two airline credit cards so I can reduce my costs for flights. If you find you can't easily get down to Orlando or you're like "NO! NOT THAT AIRPORT!" Factor that into your decision.
2. Compare how much you pay for tickets verses the price of an AP. For me, I bought a DL MK because they only sell five day tickets and they offer 25% off LLs for Magic Key holders. I think my last tickets were over $700 discounted from Undercover Tourist. When I did the math, between additional discounts, choosing not to do LL if there's a lower crowd day but buying it with the discount when I choose, and other additional discounts I couldn't get with just my Disney Visa, it was worth it.
3. Factor in discounts. I booked a room only discount on my AP in January; however, my bounce back rate was better than an AP rate would be for my upcoming trip. But the 20% merchandise discount is helpful. They also do 10% off sit-down restaurants. Disney does surprise increased discounts, which is nice, but can make it harder to plan.
4. I do like that I can go into the park for a few hours and not worry about using an entire day on a pass.