I wouldnt call it ridicuously early, by the time you actually get to MCO if you happen to be on the 'other' side from where they make their 1st stop it's usually right at 2 hours before, sometimes actually a little less then 2 hours. And while USUALLY 2 hours really is plenty of time, if there is a line checking bags or if something screwy is happening with security you NEED that time to get to your gate for initial boarding which happens usually around 20 minutes before the flight. On carriers that you have assigned seating, not so much of an issue, but for SW you want to be there ready to board about 20 before flight time, so 2 hours early really equals about 1:40 to get everything done and to the gate. Still the majority of the time plenty of time, but it's for that 'just in case' deal.
That's one usually good thing about SW, of the number of trips to WDW, the west coast and to NC a number of times in the last couple of years, I cant think of one trip that we had to wait on a late boarder. We were close once or twice waiting on people that had a connecting flight land late and they had to run to get to the gate, but it wasnt like they were just dilly-dallying around. With assigned seats I feel people dont get to the gates as early sometimes. And sitting around waiting to board I've heard very few 'SW is paging customer Bob Smith to the gate for boarding' it's always legacy carriers with assigned seats. And ask my wife, I've never been one to push the time on getting to the airport, we are always there plenty early and just take our time getting thru security, grabbing a bite to eat etc.. I HATE being rushed, and I hate to be late.