It's hard to generalize the value of an AP just because of price increases. Especially the PAP. Everyones visiting habits are different. It comes down to simple math. If visit the park enough days out of the year that equals to or is greater than the price of a PAP, then its worth every penny. If not, then its not worth the price and standard tickets would be a better financial decision.
The Unofficial PAP Equation:
(# of visits per year) x (1 day admission) > PAP = Buy PAP
With my visiting habits, I get into Disneyland for about $11 each time. Movies cost more than that. Yeah, I'm still good with the current price. Whats my limit for price increases? Depends if I can find enough aluminum cans to recycle.