Hey Grand Canyon!
I agree with the posters that talk about the importance of the hub. Here is my experience.
The RDCT show was designed to be seen from the hub. If you see it anywhere else (except for far down Main Street close to the hub) you will miss some of the special effects.
Those who have seen RDCT multiple times may not find it important to be in the hub. But if it is your first time just plan to see it in the hub.
Now, where in the hub should you go and when should you get there?
I am not an expert on RDCT location but will give you my two cents. Watch out for the trees. You want to be able to see the castle clearly and, if possible, the Matterhorn. There are lots of a light effects on the castle and a few on the Matterhorn.
Some people like to be up close to the castle, but my experience is that the closer you get to the castle the harder it is to see the fireworks behind the castle. So I like to be on the opposite side of the hub from the castle.
If the hub was a clock and the castle was at 12:00, the spot I like is at 7:30/8:00. It is not quite at the entrance to Adventureland but in that area. This is a standing area. You can sit on the ground beforehand (if you want) but once things start you will need to stand.
My last few times seeing RDCT we
could have gotten there 20 minutes early. This is unlike my first time in 2005 when RDCT was new and you had to be there at least 60 minutes early. Even so, on recent trips we shoot to be there 40 minutes early just to have some margin.
One significant problem IMHO with those who arrive 60-90 minutes early is the wind. DLR has tighter restrictions than WDW on when they are allowed to shoot off fireworks because of their metro location in Anaheim. The fireworks are much more susceptible to being cancelled than at WDW. I would hate to wait for anything for 90 minutes, but especially for something that might get cancelled at the last minute.
This also relates to which night to see the fireworks. Here is some advice from a trusted source:
"HydroGuy's Fireworks Rule"
www.disboards.com/showthread.php?t=1199851
If you want to see the fireworks at DL, do not save fireworks for the last night of your trip. Plan to see them as early in the trip as possible.