I thought the castle lights were spectacular.
However, MVMCP wasn't anywhere near as good as MNSSHP, in my opinion. It was far more crowded, more difficult to fit in the 'special' shows and things which make the party different from a regular night, and the MNSSHP candy is better than the MVMCP cookies and hot chocolate (which took 30 minutes to cool down enough so I could drink it without scalding my mouth, lol).
Also, the parade is much better at MNSSHP, I think.
Of course, it's tough to say what YOUR opinion might be. You probably should try it yourself to see what you think.