My personal opinion is to go a bit further back from the hub and more into Main Street. We posted up on a corner-which was slightly annoying at first due to the crosswalk and people constantly walking in front of us-but once the show starts CM's block the cross walk from traffic. The view is still great as you are still straight on from the castle, you are a bit closer to the entrance so the crowds aren't as bad when leaving. I find that the taped off areas that are closer to the hub obviously get scooped up really really early. depending on your party size and if you are okay with it (based on ages), a few of you can always man down the spot if you get there SUPER early and allow the others in the party to mosey around and vice versa. when my family did that 2 out of the 3 children went to Space Mountain to jump on it while the other family members posted up, one got food, bathroom runs, etc.
We went very close to christmas for mom's birthday two years ago and she refused to keep walking around the park when she saw people sitting in fireworks spots already, she made us sit in a GREAT location but for hours before the show. It didn't really bother us because like i said we were able to split up accordingly and ride some attractions with ample time to spare.
not for everyone but works great for us every time!