I could not find anything about this from AA other than in an online guide of sorts for travel agents, but I wanted to clarify.

If a flight is delayed more than 2 hours and you don't want to take it, you can get a refund even if your fare is not refundable, correct, similar to how an announced schedule change is handled (1 hour delay for voucher, 2 for refund)? Does this apply to the return if it's a round trip?