We did 3 character meals on our last visit (a year ago). DD is(was?) terrified of the regular characters, but it was helpful to see them in the character meals because she loves to see them from a far, but 5-10 feet close to us is just too much.

We have video of her being all "oh, it's Eeyore! I want Eeyore to come here! AHHHH!"

They are REALLY great, though, because we'd just ask them to come around from behind and we'd distract DD and have her smile us, so we have all these cute photos of her cheesing with Pooh or Piglet behind her (Crystal Palace was the best for the behind-her shots). One meal, we did the Princess Storybook dining in Epcot and that was GREAT!!! She still wasn't old enough to really want to talk to them much (although I think now at 3 she will want to a little more), but she just loved it all. I'd totally recommend a meal like that! Also, by our last day, we ate at Tusker House with Donald's breakfast thing and she actually started smiling at the characters! DD still didn't want hugs, but it was good to see her warming up a bit.
This time, we're doing more character meals, half with "regular" characters and half with "face" characters (princesses, etc). Hopefully that'll be a good average. I'm hoping our 10 month old will be okay with all of them, but you never know... some kids love them, some kids hate them. Our DD is still afraid of our local Chickfila cow, so I'm pretty sure she'll still not be a big fan of the regular characters, but maybe warm up a little bit more? We'll see! If it turns out that anything is NOT fun for them, just ask the characters to not come by, but if they do like it, it's totally fun.