I notice they're changing it now and that all 120 points need to be completed by December 2012. They do seem to be replacing it with another one, however.
Well they're both hard work and quite intensive, but tremendously enjoyable. I actually started with the old A214, which seems to have been equivalent to A224, Inside Music, except the new one doesn't have a summer school, which was the highlight of the old course. The course actually took you from the very basics of notation right through to four-part harmony and chord theory in the space of the nine months, so although it started quite simply, there was a very steep jump about eight weeks in that some people weren't ready for.
AA302 is much more about background study and music history. You learn about different genres of music, how and why they're created and how they're received, and you also get to learn a bit about editing original manuscripts. I recall we covered everything from Indian art music to blues.
At some point when I'm a little richer and with a little more time on my hands, I'd like to do an MA in music. I want to look at how Indian music has been assimilated into western culture. The MA's very much about music as culture, and AA302 seems to be a good foundation for that.