Here is how we usually break MK into 2 days:
Day 1:
Arrive at park 30 mins before rope drop. At opening, walk briskly to Fantasyland. Experience slow loading and popular attractions (Belle, Little Mermaid, Pooh), then get FP for Peter Pan. Do other FL attractions and ride Peter Pan when FP window comes up.
Head to Liberty Square and experience attractions there. Eat lunch before noon (we do QS at a FL or LSq location). Head to Frontierland- get FP for either BTMRR or Splash, whichever has a longer standby line. Experience other Frontierland attractions. While in this area, watch the 3pm parade. Ride FP attraction. Head on over to Main Street and shop, see characters, etc.
Eat dinner. Go back to Fantasyland, Lib Sq, and Frontierland to re-do favorites. If evening parade is running, see it from Frontierland or Liberty Sq area. Then head back to Main Street to watch Wishes. Our favorite spot is in the street near Caseys/Plaza Ice Cream Shop. 2nd choice is on Tomorrowland bridge to get a great view of Tink's flight.
Day 2:
Arrive at park 30 mins before rope drop. At opening, walk through the "hidden tunnel" by Tomorrowland Terrace to get to Tomorrowland. Ride Buzz at least 2 times with no wait. Get to Space Mtn for FPs, then ride Astro Orbiters. Experience other Tomorrowland attractions, then ride Space when FP time comes up. Eat lunch before noon- we usually go to Cosmic Ray's.
Finish up Tomorrowland, then head for Adventureland. Get FP for Jungle Cruise (if line longer than 20 mins or so) then experience Adventureland attractons. Be sure to have a Dole Whip-YUM!! You will have a good amount of time left after experiencing these 2 lands, so you can go back to attractions you want to do again in other lands. Slow down and enjoy the MK- notice details. Do more character greetings, see some shows you missed the other day.
Eat dinner. After dark, try to do some things that are great at night- BTMRR, Astro Orbiter, Dumbo, Tea Party, Speedway. Experience Wishes again, or just stroll and do what you want. Or even head back to the resort for an early night.