There are a few different activities. One of which is that huge line you saw. That is the meet/greet line for the princesses. There is also a royal coronation ceremony that takes place several times daily where your little princesses are taught how to dance and they have a may pole dance with three princesses on stage. There is also princess storytelling several times daily. You never know which princess will be telling the story until she comes out. There are schedules for both the storytelling and coronation at the front of the Faire on a sign.
There is also a place for princess makeovers (for a fee, of course) and a shop to buy princess stuff. You can also color and decorate crowns in the store where they have tables set up.
I think that's it.