Well, I talked myself back into the CL Fastpasses and booked this morning.

For those also grappling with whether they find value in it, my mind changed because (1) I had been following threads about the difficulty getting FOP FP in June until 60+4 and my AK days are at 60+1 and 60+3 (and hard to switch due to ADRs); (2) my DS grew and (knock on wood!) will be able to ride the 40 inch rides, which made FPs more important; and (3) since we're parkhopping after a midday break, I wanted to be able to get decent FPs in the evening. I continue to think that for families with young children that can't ride many of the rides, and might not be able to stay up until the nighttime shows, the value is more questionable (at least until Toy Story Land, etc. open).
In any event, my call went smoothly and took about 30 minutes. We started with nighttime shows, since the CM wanted to make sure there was "space" left, which made me think it's possible they run out of reserved spots. The biggest hiccup was that the CM was not able to book any of my morning FPs before 9:20/9:25 a.m. (and I was looking for 9:00). It made it a little tougher to get everything scheduled at the times I wanted since I had to bump everything back. It's strange that she wasn't able to see anything before 9:20/9:25, because when I went on
MDE right after the call, I was able to modify the regular FPs earlier to the schedule I had intended.
I booked my regular three FPs first in our morning park (AK two days, HS one day). On our AK mornings, I also booked another CL FP as our fourth so I could get both Pandora rides. I then booked the other two as Tier 1 FPs in Epcot after 5:45 p.m. two of the days, so I could add on another regular FP at that park beforehand if we wanted but would have my Tier 1s set for after dinner. (I booked three MK evening FPs for our HS day.) I'll note that TSM was not an option on June 14, and there were lots of good FOP times left on June 11 (though the booking window is getting close for that day).
I'll also note that the CM mentioned that I wouldn't be able to modify my regular FPs until my 60 day mark next week. But, as mentioned above, I was able to do so no problem right after the call.
Still not sure if it's worth $639 for the four of us, but it's a great feeling to have everything locked in at two parks per day!! The CM at DSS said this program was being very well utilized for the summer months, so I have a feeling it will be around for a while.
Sorry for the long post, but I wanted to report back as we figure this out together!
