If you're rope dropping and spending the bulk of the day in the parks, you don't need a whole day for Fantasyland. I usually plan Fantasyland and Tomorrowland for one day and we can usually fit in a favorite or two from the other areas, even with a break in the middle of the day.
Then on a 2nd day we hit Liberty Square, Frontierland and AdventureLand, and usually have time to go back and do some favorites again.
There are some things we usually skip which leaves room on the second day - Tom Sawyers Island, Swiss Family Tree House, River Boat, and the circus area. We usually skip Aladdin, too. If this is your first trip and you have enough time, those things are definitely worth seeing, but they do take a good bit of time and they're not our favorites.