Different strokes for different folks, but here's what works for us:
I get a wakeup call every day at 6:15. I get up, shower, then wake my husband as I head down to fill our refillable mugs with coffee, tea, and whatever the kids want.
When he gets out of the shower, he turns on the lights and TV, and we get the troops up. We've pre-ordered breakfast foods for the room, and we eat as we get ready. We're at rope drop.
By about 1 pm, the parks have reached the point of diminishing returns. They're hot and crowded, and far too many adults all around us are having meltdowns. We head back to the resort for a few hours in the pool and/ or a nap. No one is cranky, everyone returns refreshed.
We have dinner ADRs somewhere between 5 and 6. So we head back to wherever the ADRs are, and spend the night there. My youngest is still very sensitive to loud noises, even with noise reducing headphones. So we've been known to split up for fireworks sometimes-- one of us will either head back (there's a lot to be said for night swimming, particularly at StormAlong Bay, in August!) or into the shops.
That's been our routine all along, even when the kids were younger. It works well for us. But you know your kids... are they morning people? Are you staying on site, or close enough to make that mid afternoon break practical?