In the OP's case, I'm not sure if an AP is worth it if your 5 days in
Disneyland will fall within the window of the the 14 days from start of visit to expiration of a 5 day park hopper. Room discounts could help, but may not be available during your stay and/or are too expensive. You can find much cheaper places to stay that are closer to the DLR than the Paradise Pier and Disneyland Hotel.
Like someone said, $211 is a lot of ground to make up and that may not even get you the merchandise discount since the deluxe merchandise discount is subject to change at a moment's notice. The discount is nice, but in my case it doesn't even justify the premium over the deluxe. I get the premium because I live far enough away that it's more convenient for me to go over blackout weekends and get an extra day or two that I wouldn't otherwise have. I'm not sure that the increased discounts cover the increase in cost from deluxe to premium, but for me the lack of blackouts does.
And if you get the deluxe AP and plan to visit during blackout days which happen every weekend in the summer and on many holiday weekends throughout the rest of year, you will have to either purchase a blackout ticket or upgrade to premium, which will cost even more than the $211 difference between a deluxe and 5 day park hopper.
I ran the numbers and figured out that if I take a total of 2 trips to Disneyland that total 5 days combined and take those trips more than 14 days apart, the AP is worth it. Otherwise, a 5 day park hopper is substantially cheaper. The value of an AP comes from being able to make more than one visit to Anaheim over the course of 365 days a year.