Haven't been for over 2 years but going this year and a few more things to add (we went to
MVMCP last two years instead).
1. You can use your party ticket to get into MK after I think 4pm without using a regular entry day ticket.
2. If you get the map with times in advance (MK guest services will give it to you if you ask for it - or find it on the DIS), you can plan out what you will be doing for each of the shows, etc. to do more.
3. When we last went, the candy lines were nuts early on - and I hated how they changed them so the candy 'trail' was also where the characters were. We wanted characters not necessarily candy - we can get candy anywhere and it's not really anything special. We waited a long time to get into the alice in wonderland trail to see the Walrus and same in Adventureland to see Tarzan/Jane.
4. Be wherever you want to start AT 7pm - keeping in mind that they will funnel you into the park all one way (probably through Tomorrowland) when the park is closing for regular guests. If you want Tarzan - be in that line before 7pm which means getting in the gates no later than 6:20 or so to wind all the way right and then through tomorrowland and back to adventureland. If you want alice trail be in toontown before 7. This will speed up your whole night.
5. We have at all parties always gone to the first parade. I know it's not recommended but our son was young and we wanted to make sure he saw it. We did the villians much later and if you stay after they do pictures only (no autographs). You can ask in advance who goes where. There are villians who you don't normally see so this is cool to do. The later in the night the less crowded.
You can do all of it in one night if you plan ahead. Eating time should be long before the party - we eat before we even go - usually something quick. This is also the only day we rest during the day to make sure we can all make it up that late!