We did the DVC Moonlight Magic at Disneyland last year. The lines for the food and rides were quite long. But we were able to get GREAT spots for viewing the World of Color show. Which made the whole thing worth it for us. If you are going to try to do this, make sure you are watching for the sign-up times early so you can get signed up as soon as possible. I think it "sold-out" last year.
Have a great trip! We are WDW veterans and last year was our first trip to Disneyland. We really enjoyed it.