http://en.wikipedia.org/wiki/Breeder_reactorAll reactors are breeders to some extent. In Gen III+ reactors with high burnup fuel load about 70%-80% of the power comes from fission products. The reactor produces fuel from the fuel and thus fuel lasts longer improving efficiency. However despite having improved breeding characteristics these are not traditionally considered breeder reactors.
A true breeder reactor produces greater than 1:1 ration of fuel from initial fuel loading. This is not possible in AP1000 or any light water PWR without extensive modification.
Under current waste disposal system all nuclear utilities pay the govt a flat rate of 0.1 per kwh for waste disposal. This means there is little economic incentive to invest in higher cost breeder reactor designs. If instead waste disposal fees were per metric ton or even better depending on the composition of spent fuel (higher activity waste having higher premium) then it would change the economics of breeder reactors.