Listening to the show now...
On the voicemail about taking MYW tickets and upgrading to annual passes...there are some issues.
First, you cannot generally take two MYW tickets and apply them to a single ticket (like an AP). So it is possible to upgrade ONE of the tickets at a time to an Annual Pass.
Second, if the tickets from last December were used at all, you cannot upgrade them, EVEN if you had purchased the No Expire option. MYW tickets can not be modified if they were used more than 14 days prior. And if you didn't purchase the No Expire option, then all remaining entitlements have also expired.
If they are unused, however (you perhaps already had tickets or an AP but got them as part of a package), they are still good and can be used/modified/upgraded.
Third, if the tickets given by Disney in response to the letter in any way say there were "comp" or "complementary", they cannot be modified or upgraded at all. If they are standard MYW tickets, no problem.
Of course there are always exceptions, but those are the basic rules. You can always ask the CM.
If you are planning to upgrade a currently unused ticket, USE IT ONCE FIRST *, especially if you know you got it at a cost lower than the current gate price. Disney will bridge the price of a used ticket to the current gate price and you will only need to pay the difference between the current price of the existing ticket and the new ticket.
Lastly, on whether it is worth it...if you will be making a second trip that will completed within 365 days of the day of first use of the original ticket (APs are backdated at upgrade time to the date of first use of the original ticket **), and the total days of both trips are at least 11-12 days, it is generally better to get the AP. The AP has all the extra discounts on rooms, free parking (if you stay off-site), etc. so even a shorter trip can be worth it in some cases.
* Warning: If you have the WPFM option, and don't intend to upgrade to a Premium Annual Pass (which includes water park/DQ admissions), do NOT use it at a water park or DQ first. If any of the WPFM options are used, you can only upgrade to a pass that also includes them.
** Double check what the CM does. Quite a few have lately been backdating all the way to the original purchase date of the ticket, not the date of first use, which is incorrect. If the do this and won't correct it, ask for a manager. If they date it after that date, you've gotten a bonus