Festival of Fantasy runs twice during the busy seasons, once being noon.
I personally don't think that fp are worth it, we still had to get there as SOON as we would be allowed in to ensure a good/front row spot for it. We've done it only because we get the view down Main Street with the castle in the back for photography reasons. It's a HOT wait too, no shade protection.
I say head to Frontierland around 11:30/11:40, wait in the shade around the pin shop and keep your eye on the other side of the street, as it starts to fill up and get closer to noon, cross into the sunnier but emptier side of the street to watch the parade