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AB does all the calculations for you, including saves, point costs, etc. That's one of its biggest benefits. It also flags anything that is invalid in your army list.
You can purchase AB for $39.99, which includes one year of product updates. After that, it's (I think) $12.50 per year to continue getting product updates.
There is typically approximately a one-month delay between when a new army book is released and when the corresponding data file updates become available. This can vary depending on the complexity of the new books, but that's the norm. Given that the WoC book was just released, it will likely be a few weeks before the data files for it become available.
You are welcome to download AB and take it for a test drive. Prior to licensing, it will run in demo mode, which allows you to see everything it can do. The only things demo mode excludes are creating larger armies, saving rosters, and printing (although you can use Print Preview to see what printed rosters look like). So you can play around with different units and different armies (and different game systems) to make sure it will do what you want before purchasing.
Hope this helps!
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