I was at the parks 2 weekends ago and sitting near the BB preferred viewing. While they were on the "island", I was on the side next to the train station. There are benches lined up, but I got a spot right behind the benches, maybe 10 minutes before the parade started. It wasn't crowded at all and I could sit on the ground until the parade came down Main Street. Even when there was a break I could sit on the ground, and even if I just sat up straight I could see it above/around the family sitting on the bench in front of me. There was also an adorable 4-yr old and her dad and she was able to stand behind the bench and have an awesome view.
Meanwhile it looked like the people in the BB section were very crowded in. And when the parade came around the bend, the characters were facing us head-on so looked and interacted more with us as opposed to the people who paid a premium on the other side of of the street! I was surprised they were not told to make sure to interact with people they see wearing the light-up lanyards! I am happy I never spent the money for a MSEP package, as it would not have been worth it.
BUT-PP was correct, the Fantasmic viewing will be soooo worth it! Get to be able to sit on ground front and center, as opposed to standing further to the sides and back after waiting for hours!