We just came back from a mid July trip. Mid July is our favorite time! We love it because it is in the middle of summer, the hours are long, and the weather is nice.
"Crowded" is a matter of opinion. It was crowded, but I've seen it much worse. To me "extremely crowded" means all you can do is shuffle down the paths because you can't see the pavement. July was not like that. We were able to walk at a medium pace most of the time. There are also some attractions with little to no waiting. (Over the holidays even the Blue Sky Cellar had a line. Now that's extremely crowded!)
With wise use of FPs we had no trouble getting on lots of rides. We never waited longer than 40 minutes and that was for TSMM which has no FP and doesn't often get better than that anyway. Otherwise our average wait was 15 min. Our rule is: if it is a FP ride, we don't wait in Standby line that is over 20 min.