Here is my experience with the "return time ticket" from a recent visit in October (quiet days on the crowd calendar).
Day 1, Weekday MM/EE (which I didn't have, since I have an AP):
- Entered the park a few minutes before the opening time for common folk (10:00am) - even used one of the shorter lines
- Walked quickly to the Meet and Greet area and arrived within 8 minutes (10:08am)
- ALL RETURN TIME TICKETS DISTRIBUTED - CM would not even allow me to get in line for it
SUMMARY: Be in line within the first hour after the first people enter or forget about it
Day 2, Weekday non-MM/EE:
- Entered the park before opening time (7:53am)
- Walked quickly to rope drop area in front of Walt Disney and Mickey statue, where there was already a dedicated line for Anna and Elsa Meet and Greet (to the left if facing the castle; look for the sign). I was the last person in this long line already.
- At rope drop, herded by CM (while maintaining the same line order) to the Meet and Greet area
- Waited 30 minutes in line to get return time of 10:30am
- At 10:27am returned to Meet and Greet area and told that it was too early to enter the line, therefore lined up to line up (how ironic)
- At 10:30am entered the official line up and stayed, barely moving, for an ADDITIONAL 55 minutes before entering to meet Anna and Elsa
SUMMARY: Be in line within the first hour after the first people enter or forget about it
The line up begins in front of the Village Haus Restaurant and snakes around the bathrooms towards Big Thunder Mountain Railroad in Frontierland.
Only one person needs to stand in line but that person must have all the park tickets for the entire party. Those must be ACTIVE park tickets, i.e., the ticketholder must have entered the park that day. A lot of people ran into problems with this rule as some families sent one only parent into the park with all the family's park tickets in hopes of getting return time tickets for everyone. Those park tickets were NOT eligible for return time tickets as they were not active for the day.
CM pointed out that the new system is better than the previous one, where Dads would camp out for 7+ hours (!!!) and the line would look deceptively short, when in fact one person could actually be holding a spot for an enormous group.
Hope that helps you in your quest to meet Anna and Elsa. I hope you don't mind lines.