I would head straight up Main St to Fantasy Land through the castle.
Peter pan ride is fantastic busy but worth the wait, perhaps eat some baguettes for lunch while queuing for it.
Snow white is good, but a bit dark and the witch is scary. Pinoccio is good too.
Small World of course, save that one for when they are getting tired as it is slow and gives you a chance to catch your breath and although queues may be long it loads quickly.
Labyrinth good to let them charge about a bit, but keep up or they will be hard to find .
If you find a spot near Small World to watch the parade (It starts near there) you can then dash off and get on a few rides while most people are still watching the parade.
Always big queues at the tea cups, its no different to a fairground ride here so I would miss it. Same goes for the carousel, dumbo and the little ferris wheel. Kids are always desperate to get on them though.