I would say either by Hall of Presidents or Town Square. I would go to the 2nd parade if at all possible. The crowds at the 2nd parade are not as bad as the 1st one.
I prefer a curb area to sit on (rather then just a rope and having to stand) so more often than not we are on Main Street but the best footage we ever got due to great lighting for the MNSSHP parade was by far when we sat near Country Bear Jamboree!
We usually sit in front of the candy store in Frontierland across from the turkey leg cart. Lights shine on the parade from behind you, so you can get some great pics. You have to wait a little longer here, though, because the parade starts on Main Street. Also a great spot for the daytime parade since this spot is in the shade & somewhat covered in the afternoon.
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