Our experience with the Fantasmic dinner package left something to be desired. We went in November (the week before Thanksgiving) 2003. The latest dinner reservation we could get was at 4:30 at Mama Melrose's. While the food was OK, it turned into a real time waster. You see, we missed going to several attractions/shows while at dinner. I seem to remember that a lot of the shows had their last run between 4:30 and 5:00. When we finished dinner, there was NOTHING to do (my DH and DSs are not into shopping!!) We were seated for Fantasmic and waited 1/2 hour or so for the show. The problem was that THERE WAS NO LINE AT ALL for people who didn't do the dinner package!! People were seated right up until the start of the show!! So, we could have caught the last shows, grabbed a bite to eat and then go to Fantasmic. I guess it depends on the crowd level. We were very lucky, I guess. The whole week there, we walked onto virtually every ride in every park without waiting!! So, in short, I wouldn't bother with the Fantasmic dinner package again, unless I was going during a busy time.
BTW, we are heading down 11/5 - 11/12 this year. I didn't realize that it was JERSEY WEEK when I booked the trip - hopefully, the crowds won't be too bad. My DSs will be in for a rude awakening if they have to deal with long waits - we'll see!!!!