We are Disney vets heading to AKL on Dec. 30th! This is the first time we are visiting during this time, but I am beyond excited!!! I so appreciate everyone's replies to this thread, it will be very helpful. I, too, now work in a school, so my times for visiting are limited. Being DVC now has made our trips more frequent, which makes it much less disappointing if you miss out on some of the favorite rides. We know we will be back soon!
I was just there last week of June/first week of July and decent crowds + unbearable heat = misery for me. Honestly, though, if the weather is comfortable (and not blistering hot), I think that the crowds will be so much easier to deal with.
We have also been there first week of May, and we felt like we were there alone

I remember we WALKED onto Peter Pan's Flight, which is unheard of at any time of the year! (Toy Story Mania had a 30 minute wait!)
We are taking two "1st Visit" guys with us this trip, so I am hoping that they still enjoy themselves, despite the crowds. We will be early risers all week, getting to the parks at rope drop and riding the favorites before things get crazy (per all of your wonderful recommendations). I have read on several other sites that after NYE, the crowds start to become more manageable.
Thanks again for all the great suggestions!