We just stayed at the BWV and enjoyed a few evenings at the boardwalk. If I wasn't staying there, I would plan to eat there (my favorite being the Big River Brewing co), then enjoy the BWV gift shop, take a peek in the Wyland gallery, ride the surreys (VERY fun, but do when it's not too hot!), then shop in the Sweet store, then take a peek at ESPN shop. We also enjoyed eating at ESPN, while not sports fanatics, we appreciated the trivia contest while we were there. The street performers are very fun. My phone was confiscated by one for the magic act but "magically" re-appeared (thankfully)! All of that would have taken about 2-3 hours. Another VERY fun treat is to after all that enjoy a night-cap at the Bellevue Lounge (near the Flying Fish just a floor above and to the rear). Very fun, themed, and out of the way and there used to be some fun games to enjoy (think checkers, etc.). Finally, fireworks can be seen from various spots on the boardwalk, AND lesser known, there are also the MK fireworks enjoyed from the deck off the BWV lobby (nice rocking chairs etc.)....
It could be done in 30 minutes if preferred, or 3 hours. Your choice!