Well, you have to look at it from another direction.
Making characters with M&M with AP that are simply totally superior to those without isn't really a problem, but that's not the point here... the point is to model a specific kind of power.
The limit is, generally speaking, that you cannot use the powers at the same time, it just gives you more options. Of course, I can also think of several combinations, that easily sidestep this basic limitation and just give you twice the powers for almost no extra cost.
For example, a weapon that has multiple different fire modes would be a good power to make with AP. Trying to mix together any number of unrelated powers in a fashion, that you probably won't need more than one from each AP framework at the same time, while certainly very effective isn't a good way to use it.
When creating characters in M&M you shouldn't look at what powers are best and most powerful and what combinations will lead to the most potent results, you should think up a concept and then choose what fits the concept.
Bye
Thanee