We stay at All stars at WDW and spend 2-3 days per trip at Universal. We use a rental car and it takes 15-20 minutes to drive from our room to Universal. Just like WDW, if you are there at opening, you will be able to get more done in a shorter time. We concentrate on one park each day and will go to the second park to knock off a few of the shows etc if time permits.
As for tickets, go to the Universal website and order them with pickup at the coisk (sp?) machine. We get annual passes since the re-newal rate is only $99.00 and you get free parking and some dining/merchandise discounts. They have had buy one year get one free specials in the past, so keep an eye out on the boards and the company website.
They parks do have a couple fancy restuarants, but we normally just eat the normal park fare and snacks. We have purchased the meal plan before..it is good for one or both parks and is a good deal if you eat alot..I would get a refillable cup if you get the meal plan since drinks are not included. My favorite snack is the lemon slushy available in both parks.
We tour both parks counter clockwise. At Islands, we go in order Hulk, Spiderman, Jurassic Park River Adventure, Dueling Dragons, the Suess rides and then the water rides. I would hit all the shows after getting on the rides unless a show is starting as you are walking by. You should be able to get a great deal done in the first three hours and most of the shows etc don't start until a few hours after park opening.
At Studios, we hit in order Mummy, double back for Shrek and Jimmy Neutron, then Twister, Jaws, Men in Black, Earthquake, ET and the Barney area rides/shows, then the animal show, Universal Horror Show, Beetlejuice and Terminator.