Maybe some people would find this terrible, but I would never permit my kid to wait over 30 minutes, let along 4-5 hours for any character greeting.
Maybe its different if you have a season pass, or are a FL resident, but I live in the NE part of the country and get down to WDWevery 3 years if lucky. Every minute of park time is valuable, and I'm not spending it waiting to have pictures done withcollege kids dressed like Disney characters.
As I said, I just woudln't permit it. I truthfully wouldn't want to pass down such values where my kid just couldn't live without seeing Elsa (or any celebrity figure really, real or imaginary) , and simply HAD to wait in that line. I would just say "no". Maybe my kid would cry but they'd get over it soon enough.
I won't begrude those that do wait in those lines, its their time and it doesn't harm my life, but those lines are not for me. Those waits are why I do Chef Micky's/Akershus/Crystal Palace for breakfast/dinner, as it gets the character/princess stuff out of the way without the line.