That has got to be painful!. Any idea how many points you had? Are you a resident or non-resident? Non-residents are taking upwards of 14 or so points to draw and would likely never draw again in their lifetime.
We waited for a year to burn AZ points until the tag return option was implemented, apparently it was approved, but not implemented. I'm fairly certain that you are stuck with the tag.
I would still look into the hunt, it won't be an easy hunt, but I think you will still be into elk regularly. You have a 36 day gap after the last elk hunt and very minimal pressure during the late archery hunt.
As far as timing:
Archery bull: Sept 9-22 (300 tags)
Archery antlerless: Sept 9-22 (75 tags)
Muzzleloader bull: Sept 23-29 (40 tags, very minimal pressure for that unit)
Late archery bull: November 4-17 (30 tags, that is virtually no pressure for that unit)
Late rifle bull: November 25 - December 1 (325 tags)
Rifle antlerless: December 2-8 (300 tags)
Rifle antlerless: December 9-31 (200 tags)
Again, your hunt is 36 days after the last elk hunt on that unit, and with only 30 tags there is virtually no pressure. Finding elk should be no problem at all with the elk density on that unit and the burn. The challenge will be killing one in the post rut. Success rates run about half of the early archery hunt.