Character breakfasts are great for the kids to meet at the characters. Dd was 3 and had a blast, mostly as she was one of the few little kids who wasn't shit scared of a six foot mouse!
Character teas in the parc are a real bear pit of over tired wailing kids and should be avoided at all costs unless you have the dispositiion of Mother Teresa.
I disagree with the 'go with the floww' idea. The parcs are very big and it will reduce your walking if you have a rough plan. Take plenty of water. make use of the train that loops the camp, a great ride and a much needed sit down for tired legs.
You can get pre booked tickets (free) for the most popular rides. These include the Peter Pan ride, which is great and should not be missed. You get a timed ticket and it cuts you wait at the ride to a fraction.
If you are there in the summer, make sure you have sun hats and lots of sunscreen, especialy if you are going to wwait for a parade, you can be out in the sun for quite a while.
In general the 'old' site is better than the new film studio for younger kids.
One of the resturants has cantoons playing (can remember which) and this is a boon if you have long waits for food.
The shows are amazingly good, the kids loved them and they are a nice restful sit down!