I still stand by EMH... despite some concerns about how it's not really beneficial.... but there's some ways to make more out of it. First of all, it's a good idea to get there early so you can be one of the first ones in line. You could also make an early PS (around 7:30/7:45) that you don't plan to actually use, but use it to get into the breakfast line and get in a bit early. I saw people who had PS's but weren't getting in until just a few minutes before everyone else, so I don't know how good this would work but it would at least possibly get you out of waiting in the big crush of a line.
The main idea behind EMH is to go in and get your rides done -- don't dilly dally around with the looking and sightseeing. So if this will be your first time to the MK (or anyone with you) -- you will have to decide if you want to rush down Main St. We always go and ride Buzz/Space first or get FP's for one or the other. Then hit Fantasyland... Tea Cups, Dumbo, etc. If you will be doing e-ride nights, you could probably save Buzz/Space Mtn. for later and do those then.
We usually try to take an afternoon or part of a day BEFORE or AFTER an EMH to have a more leisurely stroll down Main St. and to stop and do the picture taking thing.
We were just at EMH for MK on June 13 (Sunday) and didn't arrive to the MK until about 7:40 am. It was already quite mobbed. We had to get in line for a stroller... We were about 6 people back in line.
Since we'd been at MK the evening before... we really only wanted to do some of the rides in Fantasyland during EMH... We got about three rides in the first hour. We also stood in line to meet TweedleDee & Dum, White Rabbit, rent the strollers and take a few pictures. This time, we got an FP for Philharmagic while standing in line for Dumbo... they are pretty close together so it worked out fine. Right around 9 we were already headed over to Adventureland where the older kids played in the water spray of the Tiki Gods and the rest of our group walked right onto Magic Carpets. We also did Pirates, Goofy's Country Jamboree, back to Philharmagic and Splash Mtn. -- and spent time in the gift shops. By noon, we had done everything we'd hoped to and more and caught the tail end of Cinderella's Surprise Celebration Show as we were heading out of the park.
We were also in a group of 9 -- 4 kids, 5 adults -- that happened not to really move very fast.
IMHO, if you are really interested in doing things in Fantasyland, EMH is a good choice.
On the other hand... we went into MK two evenings before (Friday at 7pm -- an EMH day for MK)and FP was still available for such rides as Peter Pan, Philharmagic (no wait actually), Buzz -- those are the ones I noted. We were able to do 3-4 rides and caught the parade (not from the front row of course) -- and Wishes. We extended that night with e-ride night and had plenty of time to do those rides.
Also, we entered MK in the am on a non-EMH day -- a Tuesday and did notice it didn't seem quite as packed (there had been an e-ride night before) -- and we started on the Adventureland side getting in Jungle Cruise and Pirates with no waits.
I found that using the FP and knowing ahead of time where you are going to start -- starting w/non-FP rides before lines get built up -- seems to beat out the waiting for us. During our trip we didn't wait in any lines longer than 20 minutes. however, FP was really never a walk-on -- there were 10-20 minute waits for those too.