All the fireworks are amazing, and it is a lot of fun to be there in person for it all. We have watched the fireworks from the grounds of the GF, and that was awesome as well and without the headaches of a long day at the park. If the dream is to watch near Cinderella's Castle, then pack and plan as advised on this thread.
Two extra thoughts, the MK is open til about 3 am...we went IN to the park after midnight and had more fun in those 3 hours. Be ready to fight your way upstream to get in...after that, the lines were easy. We rode Big Thunder 3 times in a row. Second, they must "practice" the New Years Fireworks Show the night BEFORE at the MK so if you want to experience the show and the Castle, watch it Dec. 30 without all the headaches.
Happy New Year - anywhere at WDW is a great place to start a new year.