No. If they close the parks due to capacity they will not let anyone in even if they have a PS. We had the same dilemma last year. We made the reservation at Tony's in MK and also made a ressie at Narcoossee's at the Grand Floridian so that if we didn't make it into the park we could still see the fireworks. Of course, once you get into the park you should immediately cancel the other PS so that someone else can get in. This was suggested by our itinerary planner and it worked great!! We didn't have to worry about whether or not we'd get to see the fireworks. I think they are very particular about checking ID's on the beach to watch fireworks on July 4 because it's really not fair to the people staying at monorail resorts for it to be so crowded with other non resort guests. If you have the PS then you have every right to be seated in the restaurant watching the fireworks go off. It wouldn't be the same as being in the park, but at least you'd have a back up plan. Hope this helps.