Totally agree with Royal Consort! My parents and I were there the last week in February. We stayed for 5 nights and each of us loved every minute of it! My only real complaint was that it was supposed to be a quiet time, but it actually turned out to be quite busy.
We actually stayed at Hotel l'Elysee in Val d'Europe. It was a lovely hotel, bright and modern, beautifully maintained, probably better than what you'd get at a Disney hotel, just a little bit further away and not themed. For the whole 5 nights it cost us less than $200 each. Another benefit was that we had a lot more eateries to choose from. It was a short complimentary shuttle ride to the parks, or one stop on the train (station is just across the road).
Disneyland Park is absolutely beautiful, and so magical with a light dusting of snow on it

There were lots of refurbs while we were there (seems to be a theme for my visits lol!), and some closures due to the weather, but there was still plenty to keep us occupied. Dad and I must have gone on their version of Space Mountain about a dozen times (so much better than the US version!). Dreams was spectacular!
We are not commando style theme park visitors, so some days we had a leisurely breakfast and got there late, other times we left early. One day we spent the whole afternoon shopping in Disney Village.
Disney Studios was a lot of fun. There are several shows there - the car stunt show (which I wouldn't bother seeing again, but might be good for little boys), Cinemagique (which was a great show and very clever), and Animagique (which was very cute and upbeat, with a focus on Disney characters). Crush's Coaster was definitely worth lining up for. Rock N Roller Coaster was down with technical difficulties a fair bit, but I believe this is common in the US too. They also have a Toy Story land which is something a bit different.
Speaking of characters, there were a few out and about while we were there. We really didn't focus on characters, but went for a couple who had short lines (there are some that are free for all style, but some do have lines). I met Duffy and Goofy without any fuss. Also saw Peter Pan and Wendy at Adventure Isle who waved and said 'Bonjour!'. We didn't bother with any character meals, but I believe there are quite a few to choose from if you wanted to do your character greetings that way.
We had a very enjoyable lunch at Walt's one day we were there. Most other meals were very average, nothing wrong with them, but nothing great either. We didn't really go anywhere special other than Walt's. We never had any problems with CMs - in fact, we had a few very nice ones who asked us about Australia etc. Also, anyone who complains about the state of the toilets (which is quite a common complaint, and they certainly aren't up to the US standard) has not been to Hong Kong
For those who are thinking of going in winter, be aware that it WILL be freezing, and you WILL need lots of layers including heavy thermals, polar fleece, ski jackets, gloves, beanies etc. Most days we were there the temperature hovered around 0, and there was a constant threat of snow (though we only had any on the first day we arrived). Even in all my layers, I got uncomfortably cold if we had to spend long standing around outside waiting for parades etc. It was colder than anywhere we went in Austria or Switzerland.
Sorry for the long post, I just wanted to get across that if you go in with an open mind, remembering that there are cultural differences and not expecting it to be a cookie cutter clone of the American parks, there is really a lot to enjoy at DLP

Feel free to browse through my TR if it helps.