We haven't used our CL FPs yet, our stay is coming up quickly from June 10-22, so I can't yet comment on how they worked. However, I have followed this thread since it started and after reading all of the posts as they come I've developed a few thoughts on the program that I thought I would share here. Just for some info, I actually booked our CL FPs and the corresponding regular FPs for those days at just about 70-ish days out (we're only doing 3 days of the extra FPs, we love non park time). I wasn't ready to commit, didn't set aside the time for the call, tend to procrastinate, etc. However, I was able to get any time for any ride I wanted within 5-10 minutes (we are unfortunately just missing TSL, so that might have been a different story (pun intended

)), including FOP and the 3 tier ones at Epcot with TOT, ST, and RNRC that same day at DHS as our regular FPs. The CM who booked me was helpful, friendly, and knowledgeable and the call took around 30 min. I did have what I wanted written down, but hadn't done anything like send it ahead of time. We are 2 adults and 2 kids (5 and 8), and all have APs.
Anyway, my main thought is in response to all of the posters who feel that the price for this program is too high. I actually feel differently, and that has evolved as I have followed along. I feel that the price of the RESORT ROOM that you are required to book is very high, but the price of the program is not. A CL room's worth is very debatable (as well as the bungalows, suites, etc that also qualify). I personally love to stay CL for a variety of reasons which are always covered on the CL thread - convenience, space, location, view (depending), breakfast, alcohol, desserts, apps, status, pre trip planning, no waiting on hold forever to call in- so I try to stay CL unless we are trying to do a less expensive trip. So we would have booked CL anyway, but after they announced this it kind of cemented our desire to book all of our 3 way split CL. So after the expense of the room, I feel the ADDITIONAL expense of the CL FPs and viewing area is reasonable. Here's why
1. To have a less crowded viewing area for nighttime entertainment that you can nearly walk up to at the last minute is almost priceless. We tend to not even watch the fireworks/shows from the parks anymore unless we have a dessert party or dinner package for it to get reserved seating, so now I'll get to actually see HEA in the park for once and not from the Poly or CR, and I can see fantasmic without having to book a dinner package. We've never even seen ROL, and now we can do it and eat at Satu'li Canteen if we want to, and not have to book a dinner package somewhere. We just won't sit and wait an hour or more for a show (or anything actually). It's not just the kids that don't want to, my DH and I don't want to either. it's a waste of time, and frankly can get tedious and boring even when not trying to keep kids happy.
2. It saves money from not having to do dessert parties and dining packages. I do enjoy the dessert parties, but they take time and our real main reason was the reserved viewing convenience. Now we can get that and and we can still utilize the CL benefits that we had to pay for anyway to get desserts and drinks in the lounge. Not the same level of desserts, but enough for us to not feel like we're missing out. And not at the same time as the show, but that's a trade off we're ok with. if we don't book as many dinner packages and dessert parties, we save money (the extra CL FPs are less than the dessert party) and have more time back to enjoy the resort and utilize the lounge for snacks and apps. Win/win. One dessert party runs us around $240 (Disney's web page won't let me check the exact price right now), so for less than the dessert party we get the viewing and 3 extra FPs without restrictions for that day. I feel the FPs are a good trade off for the actual desserts and drinks that I don't need anyway

, plus we still get some in the lounge every night.
3. We had contemplated doing the Ultimate Nights of Adventure at the AK to get FOP, Navi, and ROL plus the other rides that are included without having to worry about how to do 3 tier one attractions and not rope drop, wait, etc. That alone would have cost us MORE than ALL THREE days of the extra FPs did, and really wouldn't have gotten us much more than the program did on just our AK day. So in a way I feel like everything else is added bonus given that.
We don't like full days in the parks as much at this point in our lives, particularly with small kids and staying CL in deluxe resorts (we feel the pull to go back and enjoy the resort and lounge offerings

), but for a long stay we are doing 3 longer days to utilize this. We still aren't starting until after noon on our AK day, and we still have a break in the day between Epcot and DHS and on our MK day. Possibly if we were staying our usual 8 nights we would have thought harder about it, but I think even then we would have done it. Probably not for a shorter stay, it would put us in the parks too much with not enough resort time in that case. We also are in an Epcot resort for our Epcot/DHS day and the AK day, and at the CR for our MK day, so getting to and from the parks is all walking (except AK), which will help a lot.
We're also still doing a dessert party for the Star Wars fireworks at DHS one night because we all have really enjoyed that in the past and it wasn't a choice for the CL FP nighttime show. My kids and DH really still wanted to do this and since we can just walk over we decided to do it. We are also still doing EMM at the MK. I had figured we would skip it this year since we could do the extra FPs in the MK, but we've loved it when we did it before so when space opened up we decided to do it again. I kind of look at it as another day of extra FPs, with the 3 extra being PP, Pooh, and SDMT so with those and the 3 regular FPs I booked we still essentially get 6 on that day. It also opened up FPs on the other day, since I had made PP and SDMT and changed them (well, I didn't change SDMT since I have a problem giving up something hard to get for something like dumbo or another ride we have left we didn't get a FP for, but we COULD have changed and gotten different FPs

).
So between our extra FP day and our day with EMM, we essentially have 12 FPs in the MK which means up to 12 rides I don't have to worry about lines for. In our case we have splash mt, BTMRR, and SDMT on 2 days, but I opted to do that instead of making FPs for things like teacups and monsters inc, since usually we can do those with very little wait and the others are the big disney rides with long lines you can't just decide to ride impromptu without a long wait. We also did not double up on any of our CL and regular FPs on the same day, just because I wanted to get more rides in, not repeat rides. Since TSL isn't open the only one I would have thought about doing that for was FOP, and without doubling we were able to get FPs for everything we wanted at AK so i did it that way instead.
Even without the reasons I listed above that I feel make this program worth the money, we are big believers in time is money. $50 to not wait in line for 3 big attractions (which we wouldn't do, so it means we get to ride more also) and to not have to wait long times like sardines for fireworks and shows - yes please! I think they have to keep this for only CL rooms, because it's TOO worth it and it would be too popular and unmanageable if it was opened up to all rooms. If they happen to still do this when Galaxy's edge opens up, we would likely stay CL just to use this. (or do something like EMM for it, but it would end up being more than $50 each, I'm sure)
Ok, I wonder how many people hung in there and read this! I need to work on being more succinct, but I'm just going to leave it long for now and it is what it is.