Friday is going to be a fairly busy day at Universal, you have Ellen taping two shows there that day, IOA is going private after 8PM and open to all UCF students until 1AM (The Student government literally rents out the entire park for students one night a year, and it's that day this year) and Back to the Future is closing.
I'd certainly give it a shot to see how the line is. I don't know of any official send off plans for Friday, but I'm sure there will at least be an "unofficial one", and probably a lot of old fans, old employees and more will show up in droves. I might go myself, but I think I'll try actually riding in the morning with the AP preview, and just come back in the evening to see everything else.
The bad? Half of the ride has been shutdown and gutted for a few months, and the cycle time is about 15-20 minutes per run of the film. Before that meant they could load roughly every 7-10 minutes, where as now it's double that. Right now it's not uncommon to see over an hour wait on a moderately busy day. Express passes only do so much, and there is a very good chance they will be sold out for that day.
They have really only announced closure to the Annual Pass holders, and recommended sometime during the week to "ride the greatest ride of all time" one last time. Even opening it up an hour early because of the half capacity wait times.
The potential is there for it to have the longest wait time ever at Universal (for any attraction) that night, though. And it's why they've promoted the early morning rides.