Again I don't have anything to compare it to and want to say that we did have a wonderful time and are happy to have gotten to experience it once. We had amazing views/memories/pictures of the fireworks and parade (thanks to Rob!), however if asked if we would spend the money for this event in the future, unfortunately our answer would be absolutely not. We were lucky enough to be able to park hop into the MK about 2 hours before the party goes were able to get in. In those 2 hours we shopped a bit, ate at the spring roll cart, and rode Big Thunder Railroad, the Haunted Mansion, Space Mountain, the People Mover, and Tomorrowland Speedway. Since we only planned on seeing the fireworks and the second parade (the weather was good) and we didn't have plans to stand in any meet and greet lines, we assumed that we would be able to get a lot done but were mistaken.
We didn't have to go back to the front of the park for our bands/ornaments, but experienced quite a long line and wait. We only stopped to eat once during the event (the lasagna flatbread) at a quick service....long line. We stood in two lines for photos (magic shots), but not only were the lines long, it took a lot of time to just manuever through the crowd to get to the photospots. We only ever made it to two of the "free" cookie spots. We did ride Tron three times, however the wait times were 25 min., 30 min. and 45 minutes respectively. We wanted to ride it for the fourth time, but the wait was 65 minutes which was no shorter than any time that entire week. We were able to ride a few other rides including Space Mountain and the Tomorrowland Speedway again during the event for the overlays.
My thought if you are going with children would be that unless Rob has some amazing strategy, you would have to prioritize what you want to do. If the crowd that we experienced is "normal" for a paid event, then I cannot imagine how you would ever be able to get a good spot for Frozen, the parade and the fireworks, in addition to standing in line to meet Santa, maybe some other character meet and greets, eat, get "free" snacks, shop, and ride any rides.