DH and I stayed on the Silver Package last week. When we booked, they offered to throw in the VIP Parade Viewing at no extra charge. I have to say I would definitely NOT pay any extra for this perk. It wasn't anything fantastic.
The VIP viewing at MK for Mickey's Jammin Jungle parade is at the Harambe bridge. They rope off a section of bridge before the parade started to let the "VIP"s in. Only problem was about 5 minutes before the parade started, they took down the rope and last minute people stood right there and even stood right in front of me. I was not too happy about that!
At MK it's for the fireworks. It's a section by Plaza Landing. You walk down a little ramp to the section that has tables and chairs by the water. It was nice, but there wasn't a good spot to videotape without a tree being in your way.
At Epcot for Illuminations, it's the Morocco Boat Launch. Basically you just stand where people would normally wait for the boat. The spot was okay, but I've seen Illuminations from spots just as good if not better.
You also have to make your reservations in advance and tell them what day you want to view which parade. I made the reservations about 3 weeks in advance, except for MK fireworks, which can only be booked 10 days in advance.
Hope this helps!