Wait. The first week in August is one of the busiest weeks of the year. Long, long waits for everything. It's also one of the hottest weeks of the year down here. And the beginning of August is also peak hurricane time here as well.
If at all possible, wait until the fall. Certain weeks in October and November are still fairly crowded, but nowhere near what you'd experience the first week of August.
My husband and I moved down here a year ago. We were staying in the Kissimmee area the last week in July waiting to close on our house in Orlando. We decided to spend some time in the parks. We made two attempts. We walked into the MK saw the board with que times...and turned around and walked out. Not only was it positively packed, but while it was in the low 90s that day, with all the asphalt and concrete in the park it felt like 110. We saw people lying on benches with family members fanning them. It was awful. A few days later we tried MGM....ToT was 90 minutes RnRR was 70 minutes...packed.
And keep in mind this was last year, before the great package deals came out, before the new ticket structure giving folks the option to *not* hop, and before EMH nights. I have a premium annual pass, but I just don't see us spending much time over there again until September.