I'm going to take the unpopular opinion and agree with
@SPJoeG and say that Express Pass isn't necessary. And I'll take it a bit further - I don't even enjoy it. (You can all gasp now!)
A bit of background - for me, Cabana Bay is home. It is the first Universal hotel that I stayed in and I like just about everything about it - the food, the vibe, the pools, the smell, and I can even deal with the buses - and after 10+ stays, I will chose it over any other place. Being that we usually don't have EPs, we've learned most of the tricks on how to do everything we want without them focusing mainly on going at low crowd times (mostly but not all of our trips), using early entry and single rider, and being willing to come back to something where the wait time is more than we want to spend. We also are multi-year annual passholders so our trips aren't "one and done" affairs. If we happen to miss something (and we usually don't), it isn't earth-shattering.
But after reading for years about the magic of EPs, I finally broke down and booked a split-stay with our first night at Hard Rock Hotel when I found a killer APH rate. The hotel was okay (I wanted to like the location more than I did and I was unenthused by the quick service selections available). We wound up altering our touring style to try to take advantage of having the EPs and hit the big line rides, but that was almost more "work" than our usual style. We just didn't see the value in it as there were times the EP line was longer than the single rider line, which is what we usually do. When we walked into the lobby of CB, it like a breath of fresh air and it felt like our vacation had finally begun.
This January, I decided to try again. I was traveling with my best friend (who is familiar with the parks, but not my usual Universal partner) and I was doing the runDisney Dopey challenge (running 3.1, 6.2, 13.1, and 26.2 miles on consecutive days). In an effort to save my feet for the races and maximize the limited park time that we were going to have at the start of the trip, I booked the first 2 nights at Royal Pacific. There were definitely more people in the parks and the stand-by lines were longer, but so were the EP lines. And since I had spent the darned money on the EPs, I felt a pressure to use them even if it didn't make sense. Finally by day two, I was ready to let go of that and bail on the parks when the crowds go to be too much and my energy/patience was depleted. We also wound up getting out of an EP line that was probably going to take us 10-15 minutes and ducked into a single rider line that had us on the next set of cars. For the rest of the trip, we were at Cabana Bay and the last 1.5 days (after the races were over), we had no problem getting to do everything that we wanted to - and I felt a lot less stress about doing it.
Is there a time and place for EPs? Yes! If you are only going for a day or two at a busy time and are a "one and done" trip, absolutely. Are there a particular type of group that they work particularly well for (i.e. a family unit that can't or doesn't want to use the single rider lines)? Yes! But I see so many people on the boards who seem to believe that they MUST HAVE THEM for their trip to Universal to successful and are willing to break their budget/stress themselves out beyond belief/give up things like trying the park food or buying their kid a wand to do so. And that makes me sad because I know that you can have a fabulous trip without them. I hope that that never changes about Universal.