It probably depends what you and your kids are most interested in. I know for us, autographs and pictures with the characters are the big deal each trip. I much prefer doing character meals to get the autographs/pictures versus waiting in line for X amount of time.
Our personal strategy is to do a TS (table service/sit down) breakfast and dinner each day... preferably with characters. That way I can knock out nearly all the main characters and focus on the ones I'm not expecting. For our October trip we'll see Mickey, Minnie, Donald, Daisy, Pluto, Chip/Dale, Princesses, Stitch/Lilo, Tigger/Pooh/Eeyore, Piglet, Mad Hatter, Alice, Mary Poppins, Stepmother/Stepsisters, Little Einsteins, Oso, Handy Manny, etc. all just during meals. It saves us a ton of time, and my kids aren't patient lol.
We enjoy park hoppers because we tend to change our minds midday in the things we want to do.
Whatever will make the trip the most enjoyable for you is the way to go. There are tons of board members that prefer to plan their park days and eat whenever/wherever they please. There is no right or wrong, but if you are going in August and want a few TS meals start booking them!