AAU is fine as long as you have a coach who is willing to develop the players, not line his/her pockets or get the best sponsorship deal. A coach I knew growing up has created a grassroots program over the last decade for students in grades 5-12 which has produced collegiate players from d3 up to high major programs and all conference players at all collegiate levels.
He takes the money that comes in and puts it towards the youth center in our town, the outdoor courts, and the inside courts, as well as clinics for all kids in the area and a speaker series with current and former professional athletes and coaches. Additionally, his teams perform community service and his high school kids staff the local youth center and participate in free clinics for the local YMCA and other organizations.
He does things the right way and his program gives back. If you are lucky enough to find one of these programs, you are in good shape. If my son is passionate about basketball, I would have no problem enrolling him in this program because I've seen what he does for his kids and how much they benefit from his program.