:xmas:Have gone every year for the past 5 years and wouldn't miss it -- I usually go the second week in December, and attend the Sunday evening MVMCP...it is nowhere near capacity, and to answer your question, it depends on what you want out of the magic Kingdom...
These events were designed for the Florida locals, to bring them into the park during the holidays. The closer to Christmas, the more crowded they get. They don't really market them to the resort folks, although a LOT of resort stayers will go to them. Since it's an upcharge atop the regular passes, they make plenty of money.
You can enter at 4:00 with your ticket, long before the party starts in the evening, so you get a full afternoon/night in the park. The crowds are generally very low, and they disperse differently than a normal day in the park:
The locals head to the "Christmas attractions" -- the free cookies and cocoa throughout the park (also apple juice and other surprises)...they flock to the parade and the fireworks...
The non-locals enjoy the Christmas atmosphere but head to the rides -- they are mostly all walk-ons all night long, including space mountain. If rides are your thing, there is absolutely nothing like MVMCP for short lines.
That being said, it HAS changed over the years -- there used to be more entertainment: stage shows, etc. The biggest stage show used to be in Tomorrowland theater, which was closed a few seasons ago (indeed, the entire theater was torn out and turned into a parking lot for employees). This used to have huge crowds. Now they do a stage show in front of the castle, but it is not the same -- it's geared toward tiny tots and mostly features the characters singing inane disney channel songs.
The parade IS good - and it looks special at night. The Christmas atmosphere IS palpable. The kids will love it. The fireworks are very good.
I personally wouldn't miss it -- I like the combination of rides with no lines and some of the Christmas events, but I love the feeling in the park. It's usually cold in the evenings in Florida, so it adds a bit of winter feeling to it. Disney comes alive at night, as you know. And MVMCP is something that they do well. :xmas:
:lol: but the parade was awesome, the fireworks were incredible, the cocoa and cookies were super delish :slurp:, and all of the CMs were really in the spirit of things. :xmas: It's kind of funny, but after Osborne Lights, the little bit of holidays around the world that we got to do, hotel decorations, and then capping our trip off with MVMCP- I actually wanted to leave WDW and get home so I could decorate our house and wrap gifts. 
