I did it in March. It is only about about an hour maybe an hour and 15 mins.
You go to the Liberty square Riverboat location and make ice cream sundaes and eat it prior to boarding the boat and get pics with Tiana and Naveen. They have drinks available too.
Then you can board the boat and find a spot for the parade. Tiana and Naveen go to be in the parade and at that time They move the boat forward closer to Frontierland.
They have snacks and ice cream bars on the boat too. Then you watch the parade. After the parade they back the boat up to it's loading location where Naveen and Tiana board the boat, and the boat takes one ride around giving you the change to meet and greet with Tiana and Naveen again. Once the ship docks back at Liberty square you get off the boat and it's over.
After doing it, In my opinion, it wasn't worth the $$ paid.