Maybe I'd retire (again) and go scoop up trash just for the "discounted" admission...
As for the block-out tickets: Those can be handy, but the math works out pretty much the same way. If you are going to buy just one block-out ticket on a day that the SoCal pass would have covered, you might as well buy the SoCal pass instead of the SoCal Select.
From there, add two more block-out tickets are you're even with the Deluxe pass. Add one more beyond that, and that gets you to the Premium, assuming that you'll use the Premium's additional in-park discounts.
It's all about finding that right combination of timing and frequency, as outlined above.
The main reason we bought the pass was we had family come into town last year around this time and they wanted to go to DL. We knew that Nemo would be opening in June, so we figured getting the pass would mean we can visit again for Nemo. It was also nice to see the park with different decorations throughout the year. It also allowed to spend leisure days there, knowing we could come back almost anytime. So days we would start with a movie at the AMC in downtown disney for $6 and then hit the parks.
We battled the idea of getting parking. We decided not to for the first year, seeing how many times we went. Good choice for that one.
And we didn't mind being restricted to just Sundays and weekdays. We always stay away during holidays and the summer. Too many people.