Definitely closer to the action is a real plus. However, it is really crowded around Rivers of America is a much more haphazard way versus the "stadium seating" at WDW.
I believe most people agree it is a better show at
Disneyland because of the proximity and better, to a lesser degree, becuase of the production's content which as Mike above mentioned. I have to pull out my video of WDW Fantasmic to reaquaint myself with more of the differences.
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Past
DL multiple times
WDW offsite '92, Grosvenor '96, AS-Mu '98,
Disneyana Convention AS-Mu '00
Future
Disneyana Conv 2001 at GC
DIS Convention 2001 at Y&B
OKW and BWV New Years 200