Hi!
I am going Feb 4-8th. When we went in Feb, 2002 the park hours were typical of off season, MK (9-6 or 7 with Spectro & Fireworks on Wed/Sat only), AK (9-5), Epcot (9-9), and MGM (9-8ish or so with only one Fantasmic per night).
Early entry is nice and it gives you an extra hour in the parks. What we did was stay at the parks as long as we could (since it really isn't hot enough to deserve a pool break, lol) then hit up Downtown Disney or Epcot for the later nights.
One nice thing about the shorter hours is that IF you have small kids, they are actually awake for the parade/fireworks vs. being asleep by 10pm. If you don't have any kids, then PI is open every night until the wee hours of the morning!
Hope that helps! As far as PSs go, first you need to decide on which park each day (re: early entry) then make them from there. What I like to do is on our AK day, make a PS for Boma or Jiko at AKL (short bus ride from AK) around 5ish, then head over to Epcot after dinner (using bus from AKL). Makes for a well-rounded, long day!
Take care and have fun planning!
Karen