I should have clarified that I was referring to flash photography with the AA simulator.
The K-3 simulator is supposedly good up to around 1/1000 second, but flash durations can easily be much faster, which reduces the effectiveness of the AA simulator.
Note on the following page that most of the flash power comes in a surge near the start of the flash exposure, then the flash tails off for a while.
According to their specification page for the studio strobe which I use for our main light, it has a t.5 duration of 1/6000 second as I usually have it set.
They also show 1/2000 or faster for speedlights such as you might commonly use on the hotshoe or bracket during a wedding reception.
So depending on what kind of flash unit and how it's used, the AA simulator might or might not have a noticable effect.
Reference:
Flash Duration