I'll second subscribing to
Touringplans.com and using one of their MK plans for Parents with Small Children. That's what I used with my DS4 and DD2.5. You can get a discount if you own the most recent version of the Unofficial Guide to WDW book or if you subscribe to the
allears.net newsletter.
If your first day has Morning EMH starting at 8am I would not waste that time sitting in a breakfast. I would get to the park about 30 minutes before it opens, head straight to Dumbo, then Peter Pan and Pooh, following any other rides in Fantasyland that interest you.
Toontown usually opens 1 hour after regular opening time for MK. Head over there 15 minutes before it opens. Go directly to Fairies meet & greet, then Princesses, meet Mickey & Minnie after that. Enjoy the rest of toontown after meeting your friends.
And early lunch at Crystal Palace with Pooh & Friends is the perfect time to slow down a bit. We went to Crystal Palace for the first time in December and all loved it! The food was excellent (we went for lunch) and the characters were wonderful.
I hope this is helpful and feel free to come back to ask more questions!