My sequence at a "rope drop" depends on what park I am in and my mood. I don't do it the same way everytime, for variety. I'll just discuss the MK here.
My favorite land in my favorite park, the MK, is Fantasyland, and I find it a great place to start the day to really set a magical tone - walking thru the Castle and then hitting those happy, magical attractions! (sometimes they close the Castle very quickly to prepare for Dream Along with Mickey, so on a 9AM opening you'd usually have to walk brisky down Main Street after the Welcome Show to make it to the Castle Rope - or else take a longer way into FL such as past the Wishing Well). Of course, whenever I get to a park for Opening, I always enjoy seeing the Welcome Show!
Dumbo is a good starter ride because that line will build the quickest in FL (plus it's my fave Animated Classic!). This can be followed by Pooh, Snow White, Pan, Small World, Philharmagic, Carousel, and Tea Party, in basically any order, and you've done FL comfortably in under 2 hours (usually closer to 75-90 minutes!)
What works so well, operationally, is most of these attractions are short cycles, so you can get them done in rapid-fire succession without really waiting in much of a line for any of them - most are usually walk-ons at this time. This makes this section feel so much more magical then doing FL in the middle of a crowded afternoon when there are waits for everything and cramped pathways, etc., and then the short cycles of the attractions actually becomes a disadvantage because the rhythm is long line followed by short ride, etc.
I also really like FL at night right before closing for the same reason as the morning. Short waits/walk-ons are enhanced by the magical nightime atmosphere! Of course it helps to have FPs in your pocket for Pan and Pooh
And flying on Dumbo during the fireworks is sublime.
Whether first thing in the morning or at night, I enjoy doing the FL attractions together as a whole, because they compliment each other really well as most have their roots in the timeless animated classics and IASM fits right in with the overall charming and happy vibe.
Of course, this is true for all the lands (that their attractions tend to aesthetically compliment each other)
Like many I also like the start with Space Mountain strategy. Of course, if I'm over there I'll get a fast pass right away, and still hop on the ride right away, because as a coaster fan I couldn't pass up a walk-on ride on my fave steel coaster in Florida first thing in the morning! Sometimes I even ride it nonstop until it is time to use that first FP, and then get another FP to come back later in the day as an encore!
When starting in TL, I find it good to hit Speedway and Orbitor relatively early, as the lines can get long for these and there is no FP.
Another way I like to start is the Frontierland Thunder/Splash approach, which of course also puts me in a good position to see my beloved Country Bears as all three of these are among my MK/WDW faves.
There are so many great ways to start the day, I like to mix it up for variety. Sometimes I even start by riding the train around the park for the grand tour.
Whatever approach I take, I usually try to double back to Main Street by or before 11AM-ish to ride the horse-car or Omnibus, fire truck, etc., because they usually just run in the mornings.