For me, it's all about being "in the moment."
I'm not one who rushes to get my photo taken (truth be told, I've always thought those were a little on the... brace yourselves, I'm gonna say it... cheesy side, with those backdrops that look like a wall of Sears Xmas wrapping paper). But I love meandering down Main Street as it snows. And I love being in the parks at night, looking at the lights in the windows or trees, how everything looks different in the Magic Kingdom... yes, more magical... in the dark.
I would advise that, depending on when you go, be prepared for crowds. All the usual advice holds true. If there are two parades, the second one will be easier to see (a lot of folks with kids will see the first one and leave to tuck the tots in). Fantasyland will be packed for much of the night, although it empties out toward the end. Weekend Xmas parties are generally more crowded than those held midweek. Be prepared to fight the crowds when it's time to go home.
But don't let anything take the glow off the night... it really, truly is magical. I'll be there on Tuesday, December 4th, so if you see someone wandering about looking somewhat dazed, looking as if he's ambling with no purpose whatsoever, wearing a lime green button and a baseball cap from the broadway show Wicked, that'll be me!
Richard