Sorry to be ignorant here, but I was looking to be at the park by chance on November 12. Does this mean that I will need to buy the regular ticket, plus the other ticket for the party or else get booted from the park at 7pm? Do all the rides stay open?
If you want to spend the day at MK and stay for the party, then yes, you'll have to purchase a regular park ticket plus the MVMCP ticket for the party. Otherwise, you need to leave the park when the party starts.
The party is a separately ticketed event and is not included in standard park admission.
As for rides, I'm not 100% sure of what stays open and what closes. Someone else will surely have that info.
ETA: I found a list from wdwinfo.com
(subject to change)
Main Street USA
* Casey's Corner - hot Dogs & Fries
* Main Street Sweets - Food
Adventureland
* Pirates of the Caribbean
* The Magic Carpets of Aladdin
* Swiss Family Treehouse - Food
Frontierland
* Splash Mountain
* Shootin Arcade
* Big Thunder Mountain Railroad
* Pecos Bill Cafe - Food
* Golden Oak Outpost
* Turkey Leg Cart - Food
Liberty Square
* The Haunted Mansion
* Hall of Presidents
* Sleepy Hollow - Food
Fantasyland
* Peter Pan's Flight
* Cinderella's Golden Carrousel
* Dumbo the Flying Elephant
* Mickey's Philharmagic
* Snow Whites Scary Adventures
* Winnie the Pooh
* Mad Tea Party
* It's a Small World
* Pooh's Playful Spot
* Mrs. Potts Cupboard - Food
* Friars Nook
Tomorrlowland
* Tomorrowland Speedway
* Space Mountain
* Astro Orbiter
* Buzz Lightyear's - Spin
* Stitch's Great Escape!
* Tomorrowland Transit Authority
* Tomorrowland Arcade
* Monsters, Inc. Laugh Floor
* Cosmic Ray's Starlight Cafe - Food
* The Lunching Pad - Food
Mickey's Toontown Fair
* The Barnstormer
* Mickey's Country House
* Minnie's Country House