I don't drink, so that part of a party would be lost on me. Plus I'm just as happy buying a $5 ice cream bar and finding a good spot to sit and watch. But from a viewing perspective, not sure either one would be great. I see them setting up for Wishes in the Tomorrowland Terrace. I can't imagine that's a prime viewing spot, as I would think the terrace itself would obstruct your view unless you walk up to the railing. Illuminations has SO many good viewing spots, you can grab a drink and see it from anywhere around the World Showcase.