If you will be getting up earlier than usual, then maybe you would want to consider a lunch ADR between 11 and 11:30AM. Make sure also to get to the restaurant about 15-20 minutes before your scheduled ADR time, as sometimes you have to wait that long to actually be seated.
My sons were 1 and 3 when we went on our first family WDW trip. We kept to their normal routines as much as possible. We had CS lunches each day in the parks, and we tried to eat before noon. They are used to getting up very early in the morning since we leave early for work (they get up before 6AM). So, going to the parks for rope drop fit right into their normal daily routine. We left each park at 2PM the latest. So we had time to see plenty of attractions before lunch, and one or 2 more after lunch. We did get to do everything on our list. I made dinner ADRs for between 5 and 6, also their normal dinner time. We rested in the hotel room in between for about 2 hours or so. That was perfect for them. They did not have one single melt-down the entire trip, but I think that had a LOT to do with keeping them in their normal routine with eating and napping. We did allow the kids to stay up in order to see some of the higher fireworks from Illuminations outside our window, but that was after they finished their bedtime routine, and we were all in our PJ's then went right to bed. This worked out very well, and no cranky kids!
This coming July we are going back and they will be 3 and 5. We will be doing the same thing, going to the parks for rope drop, eating lunch at their usual lunchtime, leaving in the early to mid-afternoon to take a break and then returning for dinner (or heading to a resort for dinner).
We also did not do any of the nighttime entertainment. We skipped it because we didn't think they would be able to handle that and then getting up early the next morning to go to a park. We figure we have plenty of WDW trips ahead of us as they grow up, so no need to rush it. If this is a once-in-a-lifetime trip for you, you may want to consider going to the nighttime parade at MK and then having the following day as an off day where you don't go to a park. This July, we will be staying 10 nights and only have a 7-day ticket. We are DVC members now and want to enjoy the resort and relax on a couple of our days while we are there. So we might take them to Spectro Magic one night at MK, if the following morning is a non-park day. That way the kids can sleep later if they want. But if we still feel it is not for them at this point, there's always next time.
Just keep in mind that this is all about the kids. OK, it is about you too, but you will have fun no matter what you do, unless you try to overdo it for your kids. The kids will enjoy anything they do and if you don't get to do all the attractions you want to, they won't even notice. After your trip they will just talk about how much fun it was! DH and I keep this in mind and we know we will enjoy anything we do there, and we would enjoy it less if we had to deal with more melt-downs. Just go and enjoy!!! You will have a wonderful time!