It's on Sprint, so 8 vs 16. Personal phone only, I will put some music on it. I'm not really that concerned about the storage as I will be using it till the next iPhone comes out. I will use the camera about as much as the normal user. A few pictures a week.
And on a similar note, which do you think would have a higher resell value?
Keep your phone in good condition (a case perhaps) and you'll likely not need AC+. Any problems you have with the 4S (besides destroying it, cracking it, etc) will be covered under warranty. I think it's pointless to get AC+ if you know you're not going to be harsh with your phone.
Additionally if you want to utilize AC+, you'll have to pay a $50 deductible.
I've purchased 14 different Apple products over the years and I've never purchased AppleCare for any of them. I've never purchased an extended warranty for anything, really. I don't believe in extended warranties. It's like fast food companies charging you an extra 50% for fries and soda that aren't even worth a fraction of the rest of the meal.
There's only been one time I've had to pay out of pocket for repairs, and that was a $70 bill to fix the power supply in my 24" ACD. Thing is, I bought that thing used, so I shouldn't even count it... Am I lucky or just careful? You decide.