I will be avoiding MK on that day. I plan to do the less popular attractions at the Studios in the am (AK has EE) and some things at Epcot including World Showcase entertainment in the evening.
Two years ago, we did the AK EE on Columbus day which worked well for us. We left the park before lunch. In the afternoon, we went to the Studios and it was ok except for the parade. That was something we should have skipped that day. We stayed through the evening for Fantasmic - holding our spots fairly early by eating supper in the theatre area. I really had the day planned out pretty well (with few MAJOR attractions), so we didn't have problems except for the rude people we encountered on the parade route.
I think it's just one of the days during Oct. that you have to plan well and not get frustrated about some crowds...especially if you plan to see Spectro or Wishes that night.