5 and 6:45 PM shows do dine after the show. 8:15 show dines before the show. I have 5:30 dinner PS's for both of our 8:15 CP shows. There isn't enough time to eat before the show for the first 2 shows. Suppose you might be able to do it for the 6:45 show, but it would really be cutting it close if your dining spot was not right on time seating you, bringing your food etc. I would want to be at Mexico or Canda dining and try and hoof it back to see the CP in time and expect to get a good seat. What becomes an issue with all of these shows is finding a good spot for Illuminations, as you're either dining until 9, or just getting out of the show! Oh well, yet another reason to return to epcot another evening!!
We love the CP and believe the package is the way to go. We always get in line early (about 45 minutes) to ensure we snag a good spot. We like to be in the center, just before the line of trees. Of course, if it's raining..we head for the overhang!! But, if it's a nice night, it's wonderful to sit back a bit so you can enjoy the full affect of the show.
Enjoy!