My wife and I love the parade! We're annual passholders so we can spend more time waiting for a great spot (Main Street train station, second floor in the shade with a chair), but that requires closer to an hour and a half of waiting.
Sometimes we've gotten lucky in Frountierland closer to the start of the route with a shady spot, but I've seen most of those good spots require 45 minutes. Granted, these experiences are on the weekend. It may be a different story during the week.
If you are in Frountierland and like the parade, you can cut through Adventureland and past the Crystal Palace and Casey's Corner to catch it again near the Main Street roundabout at the front of the park!