We did not think it was worth it when we did it a few years ago. We will not do it again if we go back at that time of year. Let me tell you why and then you can judge for yourself. Alot of people love this party but to us it is just not worth the extra money we would rather spend on other things.
1. The buses going to the MK for the party fill up quickly. We had to wait for three buses going to the party from POFQ until we could finally make it on one. All in all we waited about 45 minutes to get on a bus. There were so many people going to the party, waiting in the rain (which made it worse!) for 45 minutes just to get there was the first indication it might not be worth the cost.
2. It was way more crowded than we thought it would be. The traffic on Main Street was like herding cattle. Now we know how crowded the MK can get during the day, but getting in and down main street when the party started at 7 was just miserable. Everyone going in at the same time was just crazy, so if you go your might want to head over there really early so you can be one of the first, or wait until later to avoid this problem.
3. The lines for the rides were not that much shorter than during the day. Sure we did get to Buzz when it was fairly empty, rode it twice in a row, and by then it had a very long line. If you are going for the rides, defintely not worth it. If you are going for the parade and the shows, probably worth seeing but whether or not the shows warrant the extra money is debatable.
4. You have to stake out your spot for the parade in the same way/time you would during the day, making you miss alot of what is going on at the party. We decided to do rides instead, and ended up missing the fireworks while we were on Splash Mountain. It does snow on Main Street, but it also does that at Osbourne Lights over at the Studios and you can see those for free.
5. The lines for the cookies, and for the picutres took a LONG time. At least 40 minutes for the picture and another 20 for the cookies. Between the two, we lost an hour.
6. After doing parks during the day, we really wore ourselves out staying up so late and not leaving until about 11:45 (again cattle herding down Main Street) The next day we were dragging, and we even took naps before going to the party.
Now we expect these issues when we go to MK during the day with all of the regular guests, and we are not complainers at all when it comes to crowds and stuff. I am only so picky because we paid EXTRA on top of our regular passes to get into the party. It just didn't seem that magical to us, though I know lots of people would not miss it for the world. These are just my opinions of course!!
The other plus was that Epcot was much less crowded on the nights of
MVMCP which made it extrememly enjoyable!