Kenny did the package the first day it came out, there was some confusion as to no one knew how it would work. He showed up at the time Disney said to go for the parade, as we learned later it was best to be at the check in podium by 10:30 to get a better spot for the parade. Also, I think it was weekend 3 that they started enforcing kids to sit down in the front while parents sat or stood behind them giving the little ones better views.
As for the fireworks without the hat it'l be a better spot but still for the best view you would need to go to at least the tipboard (hollywood blvd and Sunset blvd) or even, my favorite spot, Echo Lake.
The package will still give you a good view just not the best one. What you can do, if you have the package and want a great view of fireworks is enjoy the dessert party and maybe about 5 min. before the fireworks move to Echo Lake, this area never gets super crowded.
But if they are going to have a pre show on the stage like last year you will miss it.
Another option is enjoy the dessert party and move toward the Jumbotron on the old AIE theater, they show what's going on on-stage live and it's a better view of the fireworks (not as good as Echo lake or tipboard)
EDIT Just wanted to add the the FtF package is great because it gives you space to walk around (not shoulder to shoulder), enjoy desserts and drinks, mingle and listen to great music while waiting for fireworks, not necessary the best view of fireworks. I think that the decision to place it there was so that the package people would be able to see the stage show without a problem and see fireworks...anywhere else would've been a problem since you wouldn't be able to see the stage.