There are long threads for each hotel where you can read more of the pros and cons.
Disneyland Hotel, Grand Californian Hotel,
Pixar Place Hotel There are a lot of people who complain about the lack of benefits from staying in a DLR hotel, yet continue to stay there. Some of the benefits include: staying in "the bubble" - although it is much less of a bubble than at WDW. Exclusive entrances into the theme parks for DLR hotel guests and 30 min early entry (DL - Tu, Th, Sat and DCA - M,W,F, Sun). Not everything is open for EE. You can find the current list here:
Early Admission Options
We don't know what shows will occur in January. Personally, I'm assuming that they will add theming for
Disneyland's 70th, but nothing has been announced.
Parades - Disneyland usually has two parades. The first is around 3 pm. It starts near Small World and ends at Main Street. The second is around 6 pm and goes in the opposite direction - starting at Main Street and ending near Small World. I haven't heard of any DCA parades for January yet. The Lunar New Year celebration usually begins at the end of January.
Fantasmic (DL) - The first show is at 9 pm and the second is at 10:30 pm. Note that it is currently weekends only. Fantasmic takes place on Tom Sawyer's Island and the Rivers of America. Viewing is from Frontierland & New Orleans Square. There is no amphitheater type seating like at WDW. The majority of the viewing is either sitting on the ground (reserved dining packages) or standing (standby). Fantasmic dining packages are offered at Blue Bayou, River Belle Terrace and Rancho del Zocalo. They are a separate Fantasmic Dining Package listing on the Disneyland App. As of this posting, you cannot book a regular reservation at one of the restaurants and request to have a Fantasmic dining package. There is a very long
Fantasmic thread with pictures of menus, food and comments about seating.
Fireworks (DL) - Occur (weather permitting) at 9:30 pm. Projections that accompany the fireworks occur even if there are no fireworks. The best viewing is in front of the castle, but people start gathering very early (hours) for that. Main Street is another popular viewing space. Projections are also on Small World and on the water at Rivers of America. If you have a dining package for the first Fantasmic show, you can stay in your seat and watch the fireworks from there (Fantasmic ends at 9:27 and fireworks begin at 9:30). Viewing from Star Wars Galaxy Edge is
Fire of the Rising Moons. I'm local and have photos of fireworks from just about every location. If you are curious about the views, let me know and I will share some pictures.
World of Color (DCA) - The first show is at 9 pm and the second is at 10:15 pm. Note: DCA closes at 10 pm so you will be ushered straight out of the park after the 2nd show. There is a very popular WOC dessert package as well as dining packages at both Storytellers (GCH) and Wine Country Trattoria (DCA). For the dining packages, you only need a reservation at the restaurant. Once you are seated, you are given the option of a regular menu or a WOC dining package menu. Dining package viewing is standing only. There is a good thread about
WOC dessert package table numbers with views.
Heading off to work. I'll edit and add more hyperlinks later.