We went over spring break with 2 small kids and first of all, took full advantage of morning EMH hours (do it if you can). Get to the MK as early as you can and head straight for Fantasyland. Grab a FP for Peter Pan's flight and do as much in Fantasyland as you can. As soon as you are able to get a new FP, you might want to grab Buzz Lightyear's Space Ranger Spin in Tomorrowland. You also might want to consider doing Aladdin's Carpets early in the am, as there is no FP available for it. If you are planning to do Ariel's Grotto, you might want to think about getting there right at opening (for us, it was later than the rest of the park.) That was our longest wait time at 30 minutes. Everything else was walk-on to 10 minutes max.
We actually stockpiled our FP's for the day and rode as many of the non-FP rides as possible. When it got crowded in the afternoon, we started using our FP's. We asked CM's if was ok to go outside of the ticketed time and as long as it was after the start time and on the same day, it was ok.