For a regular 9am open, they open Main St at 8am. The shops are open along with Starbucks and I think the Plaza serves some QS breakfast options. There is a short welcome show held in front of the castle at 8:55am, then they drop the ropes into all the lands.
We did it on Tuesday, got into the park probably around 8:45 and were just a few rows back from the rope to the left of the castle stage. We even stopped for a minute to take pictures in front of the castle before we walked up. (We could've gotten closer but my kids wanted to be able to see the show.) Went right to Peter Pan when they opened the park and pretty much walked on. Now having experienced this version of "rope drop" I much prefer it to being clumped together in front of the train station and walking down Main St with the masses.