Yes it s a successful route to the Academy, Falcons as a group have the highest completion/graduation rate of any subgroup as stated by the Falcon Foundation!
As others have stated, an Appointment after a successful prep year is your's to loose.
Continue to be smart about your behavior as it could affect chances of a nomination (yes you still have to go through all of that again, however MOCs are aware of the Falcon program so it does help your chances of Nom) as well as the offer of an Appointment.
No crazy grad parties and such...consider every activity and prank as possibly having an impact on your Nom/Appoinment this fall and next spring.
There are plenty of prep options: full military MMI,NMMI to the unique program at NWP. Choose the prep that will best prepare you for life at USAFA. If you have been in IB/AP/ or dual enrollment maybe a full immersion in the military and regimental programs offered by the military prep schools is maybe a better choice than one that has more of a traditional college atmosphere. Maybe you have only been at a small hometown school or homeschool then possibly exposure to the "big pond" aspect of a split program like NWP might allow you to experience what it is like with thousands of others all around you with distractions, and learning to find your place in a bigger setting.
Choose wisely and carefully, you want the Falcon year to prepare you to succeed at USAFA...not just what looks like a easy or fun way to kill time waiting on next year's appointment!
You will be on a coveted path to USAFA, however, stupid decisions and behavior will cancel your Golden Ticket, don't mess up this wonderful opportunity at a second and very successful shot at finally arriving On The Hill!!