DW and I don't have any kids and we went to see what it was all about. We had watched the WDWINFO new fantasyland video religiously before going for the first time, and we were dying to see the technology that went into it. I won't spoil anything with details you may or may not know. It was neat, but without kids, we don't really care to do it again. It's kind of a 'do it once' but once you have you'll have been there and done that. DW is a preschool teacher and she brings kids home with her from school pretty often, so we're around small children enough to where we enjoyed seeing the kids interact anyway if that makes any sense.
We did not wait long though. We went in during Wishes. Waited maybe 15 minutes. I wouldn't wait any longer than that.