AC stands for Abrasion Class. The AC standards are set by the European Producers of Laminate Flooring (EPLF). The standard includes criteria for resistance to burns, water absorption, scratching, denting, and even stains, so a floor's AC rating probably a pretty reliable indicator of how well a floor will wear with use under a variety of conditions.
"Why is the only time I'm right have to be when I realize I'm wrong?"
~Nathan the Stout