Only the Preferred and Premier Annual Passes cover parking. The Premier Pass even includes free valet/preferred parking. The cheaper Power Annual Pass does not. The Power Annual Pass is about $100 less expensive than the Preferred and about $250 less than the Premium pass.

Unless there is something you really want/need in the more expensive passes, I don't really see the need to pay extra for them. And even if you have a need (i.e. want that free parking), just getting one person the higher priced pass might work for you as well.

Also, to the car rental suggestion, there is an Avis counter at the Doubletree which is right at the entrance to Universal. I'm going to be using that option on my next trip as I can get a 24 hr rental for about $30 all-in and gives us the ability to eat and do some off-site activities for the 1st day. Then we will move over to the Royal Pacific on-site hotel to get those nice Unlimited Express passes for the rest of our stay. ^