We just returned from our 7-day Western on the Magic last Saturday. We, too live in NJ. We got a flight out of Newark 7:30 Saturday morning and our pilot turbo-ed it and we got there in under two hours. I had printed out our boarding passes online, checked our luggage straight through to the ship at the curb and we were sitting around just waiting for our flight to leave. We arrived by 9:30, didn't have to get our luggage, met a Disney rep easily (they're all over Orlando International!), checked in, got onto the transfer bus (Yes, we booked that with our cruise tickets) and were at the terminal by 11:30. We easily checked in at the terminal and then had to kill time aboard the ship because you can't get into your stateroom until after 1:30.
Granted, we had NO problems and we were fortunate. We were traveling with teenagers, not young children. I was nervous beforehand, too but it worked out perfectly.
In hindsight, however, I wish I had booked an earlier flight home. Our return flight was at 5:40 in the evening, thinking we'd just enjoy our last morning on the ship. Not so...they get you off by 9:00 a.m. I didn't know that at the time so we gathered our luggage, checked it through, boarded the bus and spent 6 hours at Orlando International. We felt like Tom Hanks in "The Terminal". Something to keep in mind.
I just felt we didn't need the additional expense of another night in a hotel. You've got to do whatever makes you comfortable.
No matter what, enjoy...you can't help but to. It's the best vacation we've ever had!