I think this is very school dependent. Both the HS and their teaching staff, the colleges. My D’s AP teachers were phenomenal. They used the AP as a guide but when far deeper and beyond the content. Students leave her HS feeling very well prepared for the rigors of college. The school also had a strict cap on APs so it wasn’t a race to get through as many as possible. 0 freshman year, 1 sophomore year, 3 junior year, and with special permission, 4 senior year.
My D is also at state flagship where all her AP and DE credits were accepted. While it doesn’t help her graduate earlier, she was able to place into the appropriate level courses and met all her gen ed requirements. That freed up her schedule to do a special certification course and add a minor. She also can take fewer classes any semester. There is also the benefit of priority scheduling and registration of having upperclassman standing.