I traded in a 2015 Model S w/AP1 in on a 2018 Model 3 with AP2
Here is how I'd break it down
TACC -> Win goes to AP1 for less false braking events.
Lane Steering in decent whether -> Slight win for AP2, but they're both pretty good
Lane Steering in bad weather -> Large win for AP2. It's pretty damn good at seeing the lines even when I have a hard time. It's pretty shocking really.
Steering Wheel Nag -> Not bad with a Model S. Pretty bad with a Model 3. This is because the torque sensor in a Model 3 simply isn't as good as the torque sensor in a Model S. Of course this is why all the "sleeping in a Tesla" videos of late are of a Model S.
Truck Lust -> AP1 had it the last time I used it, and AP2 doesn't have it. It's the tendency for the car to lose sight of the lines near a semi, and then get closer it (as it tries to re-acquire the line). I haven't heard any recent complaints about this with AP1 so maybe it's better now.
Summons -> Piece of crap on both. But, it's going to be updated soon for AP2 so I expect it to be a large win for AP2
NoA -> Piece of crap on AP2, but it will likely get better over the next 6 months. Feature doesn't exist on AP1.
Side/Blindspot Monitoring -> doesn't work on AP1. works okay on AP2 with the 360 degree visualization.
All in all AP2 is better, but I wouldn't say it's worth thousands more. Having a really good TACC system with very few false braking events makes AP1 pretty nice.
There are other differences between those two cars that should take precedence in terms of an actual decision unless AP is really important to you. If it is then I'd get the Model 3 as AP will get better in it over time, and you can upgrade the AP computer later on when that's released. With the Model S you're going to be limited by what it can currently do.