Would I be crazy to try to go to Disneyland near Fourth of July? It would be myself, two kids (8,6), and probably my mom. Most likely we would be there Wednesday, July 1 and leave sometime Saturday, July 4. What might the crowds be like?
It will be very, very crowded with wait times of an hour or more for most attractions.
Personally I don't like going on days like this but some people thrive on them. If they don't bother you then I say go for it!
This year, 7/3-7/5 - Awesome!
2010, 7/2-7/5 - Fantastic!
Many locals APs are blocked, many non locals figure it'll be too crowded = a lovely time to visit the parks.
Indiana - how many days in early July have you spent in the parks?
DL now shows the July 4th fireworks from July 1st through the 4th (with a longer show, I think, on the 4th itself), so that helps alleviate some of the crowding and camping out to watch the show. It's not a crazy idea to go at that time (it's not nearly as crowded as it is the week before New Years), but be prepared for crowds and have a flexible game plan.