In no particular order.
Magical:
Theming, in general.
Cinderella's Castle at night (lighting ceremony is a bonus).
Lion King, Nemo, and Beauty & Beast shows (a bit of Broadway for $$ of admission).
Hearing my 5 y.o. daughter scream in joy on Big Thunder Mountain Railroad.
Joking that Test Track is like sitting through daddy's (my) driving - we have a convertible.
Having the bird take a $dollar from my hand at Flights of Wonder.
The joy at meeting any Character.
Osborne Lights (particularly when it snows).
Pirates of Caribbean & Haunted Mansion at night.
Eating a Mickey-shaped ice cream for breakfast.
Not Magical:
Declining food quality.
Better bus scheduling & communication (waiting 45 minutes is unconscionable and too frequent).
Fewer side-shows and impromptu character meetings.
Seemingly more visible dirt and repair needs.
Hollywood Studios in need of more stuff to do.
Update Disney Quest.
Have more rainy day solutions for young children.