At 2 1/2 my son was tall enough for the Barnstormer. We skipped pretty much everything else with a height requirement. Since we go fairly frequently, it wasn't a big deal, especially since DH has developed some motion sickness issues. He didn't ride a lot of things with us, even if DS could.
There are soo many attractions at WDW that I actually found it easier to cut out all the height sensitive rides. We still had more than enough to fill our time. Again, it wasn't our first or last trip, so we know we'll get to do everything again. When we took DS at 3 months old, we did switch off for a lot of the rides, because he slept a lot anyways.
At 2 1/2 DS particularly liked the shows and characters.
Oddly enough, he HATED the carousel. He also didn't like the moving walkways to get on the ride, but once he was on the rides, he was fine.
We ended up spending a lot of time doing the Sorcerer's of the Magic Kingdom game, because it was something we could all comfortably do together. It was a different kind of trip, but we still had a blast.