Without a doubt, CAPE MAY!! Food is way way better than Chef Mickeys. Plus I love the decore at the BC and seeing the characters in their swim wear. Cape May is far quieter than Chef Mickeys. Its actually one of the quietest character meals (no napkin waving or parades).
Chef Mickeys has two things going for it....the location/proximity to MK, and the fab 5. I'd still go to Cape May though, even though BC can be a pain in the butt to get to. Totally worth it.