Wishes - the tables near the Plaza Counter Service Restaurant (between Main St and Tomorrowland). It gives you a great view of the fireworks and Tinkerbell flies almost directly overhead. I usually grab some food and get a table at the very front about 45 minutes before the show.
Illuminations - the benches in China. Much better location than the others I've been to (Rose & Crown, Morocco boat landing, Germany). You can see everything from here - the fireworks, the globe and the water show - without any problems. Again, I usually grab some counter service and pick a bench right up against the railing about 45 minutes before the show.