For me, AOW was an introduction to night diving, navigation, deep diving,and recovery. All activities were supervised by the instructor, and if I recall correctly, a divemaster. While some shops want you to take the AOW right after you complete your OW course, I waited until I was comfortable in the water (about 40 dives) before I took the AOW.
Although I don't do it too often anymore, I love night diving. Lots of critters out and about that are not out during the day.
For the most part my navigation skills are good. The odd time I am way off, usually by not taking the current caused by tides into account. For example, I know the heading back to the exit point, but don't compensate enough enough for the current caused by the tidal exchange (not an issue in lakes but most of my diving is in the ocean), leaving me a distance from the exit point.
The deep dive portion gave me the confidence to explore deeper depths without the worry about being too deep. My deepest dive has been to 155 feet to look at gorgonian coral, but the majority of my dives are less than 100 feet. Now I only go deep to check out octopus or wolf eel dens.
As the recovery part of the training, I learned how to rig lift bags properly, and raise items from the bottom. Haven't actually used this skill too much. I think the last item I recovered was from about 20 feet, and was light enough it did not require a lift bag.
As others have stated, a quality instructor will help round out your training, making you a better, more confident diver.
Dive safe,
Divegoose