We also just returned from WDW yesterday and participated in two of the Magical Beginnings mornings at Fantasyland. Amazing! The photos we have of our two children are priceless! Playing duck, duck, goose with Mickey and Minnie, riding the carousel with Chip and Dale, playing hide and seek with Peter Pan, Hook and Wendy...... There were no waits on any rides and the character interaction was great! On Friday we were let in the front gates at 7:45 and waited in Cinderella's castle until Alice and the Mad Hatter let us all in to FL. My kids (5 and 4) woke up Tinkerbell and then played for an hour all over FL! My niece and nephews are 9,8 and 4, and they loved riding Peter Pan's Flight with Peter Pan and Dumbo with Stitch, so that age is great, too! It was tough getting the kids moving early enough to catch the bus, but it was so worth it!
As to the question about photo ops with characters..... The cast members with the characters do not allow autographs, but we were able to get several photos in between games. The exceptions were Captain Hook and Peter Pan. They were running all over most of the time playing hide and seek or shadow tag and wouldn't stop for photos. It was so much fun to have some candid shots of my kids playing with everyone! We took over 1000 photos, so I haven't even seen them all yet!
Those 2 mornings from 8-9am were worth the 2 years that went into the planning of the trip! We really lucked out because the crowds were so minimal and we very rarely waited more than a few minutes for a ride. When we walked into MGM, we were told that we could walk right into the Wiggles show! They couldn't give away all of the tickets for all 3 shows and there were empty seats! I couldn't believe it after reading of the chaos for the Doodlebops shows! I guess we are lucky to be from NY - no school until after Labor Day!