We went for our very first visit on New Years Day this year with two toddlers. I was pretty worried about crowd levels, too. I have nothing to compare it to, but it seemed really busy to me.
That said, we had a wonderful time. The decorations were beautiful and the characters were in their Christmas outfits. We were expecting big crowds, so we relaxed and enjoyed the atmosphere without trying to do it all. We also arrived at opening and were able to get our "must do" things in before the crowds built up. There was a huge difference between the crowds at 9 am and at noon.
I'd go again that week in a heartbeat!