We went to
MVMCP when my kids were 3 and 5, and the parade was, by far, the highlight of the party for them. We did the early parade. I know my kids wouldn't have been as in to it for the later parade because they were exhausted by that time. We had 4 adults in our group, so we were able to divide and conquer to hold a spot on the curb on Main Street for the parade while not making the kids actually sit there and wait the whole time. Around 6:00, one adult got in line to meet the Seven Dwarves, one adult headed to Main Street to stake out some curb space for the parade (using beach towels and parking the stroller to hold the spot), and one adult took the kids to get a quick service dinner. After the kids had dinner, they joined the Seven Dwarves line. Many families seemed to be doing this (having one adult hold spot in line for entire family), so no one seemed to have a problem with this at all. After meeting Seven Dwarves, we did a potty break, grabbed hot cocoa and cookies and joined the last adult waiting on Main Street. Our kids did fine hanging out there until parade time. They drank their cocoa, played in the "snow", and I believe we even popped over to meet the princesses with their princes in Town Square theater. We watched the castle lighting and stage show from there too. Once the parade was over, we'd checked off all of our "must-dos" for the party and were able to relax and just ride rides until we got tired and went back to room.
All that being said, if you have at least one person in your party willing to grab a spot on the curb early, you will be fine. Let them have the stroller to help hold the spot.
I personally would not do CRT during MVMCP as you can do that anytime.