We recently travelled to Disney with a 2-1/2 year old who loved it --especially the bus rides. Even though he didn't nap, it really made a difference to break the day up. We went to MK or AK first thing in the morning, left after a few hours for a break and a dip in the resort pool (he adored the waterslide at PO-Riverside -- went down on my lap and I lifted him clear of the water for the final splash). Then in the afternoon, we'd go back to the parks, usually to Epcot. I really recommend on-site stay when you're travelling with young ones.
His personal likes and dislikes:
He predictably loved Fantasyland. Get there early early early -- we were at the rope drop under the castle at 9 am and went on everything without lines. His favorite were the Speedway cars, just beside Fantasyland. Go there immediately after Dumbo, because the line gets really long quickly and it's a smelly wait, with the petrol fumes. He liked Dumbo, Teacups, Pooh, Peter Pan, and It's a Small World. Got a little nervous on Buzz Lightyear. We didn't do Snow White because I'd been on it before and knew it was inappropriate. Some other morning, go to Adventureland first and hop on the Magic Carpets. Jungle Cruise is great for little ones, if there's no line, and Pirates of the Caribbean may be tolerable. He loved the Pirate gift shop when we went out.
In MGM, he enjoyed the Indiana Jones show (only got a little wiggly -- it's a long show) and the Muppets. Great Movie Ride he found a little scary and confusing. The Honey I Shrunk the Kids playground is neat. Little Mermaid was ok, but really not that special, in my kids' opinions. We skipped Bear, I admit, because my son voted to go back to the hotel waterslide by that time.
In Animal Kingdom, he liked the walking trails in Africa and Asia. But he completely adored the Triceratops Spin. We were there first thing in the morning and went on it many many times in a row. The Safari is indeed really bumpy, but he enjoyed it anyway. And the Lion King show is definitely worth seeing with little ones. It's Tough to Be a Bug was too much for him -- he took off his own glasses and just cuddled in my lap.
Epcot was his absolute favorite. We went there in the afternoons and evenings, after having been back to the hotel after the Fantasyland or AK morning blitzes, and our kids really enjoyed just playing at Epcot -- e.g. jumping on the sparkling sidewalks around Spaceship Earth -- or sitting on the sidewalk and watching the live shows. My 4-year-old daughter loved the Dragon Legend Acrobats and we saw them twice (different shows). I know a lot of people with young kids often skip Epcot, but the younger ones can really appreciate the little things, like chasing each other around the hedge maze in England. My son's personal favorite was watching the model trains in Germany.
Generally, my advice is -- don't wait in too many lines with really small ones, and save most of the big attractions where you'd have to do a baby swap for the next trip. There's enough little things to fill your day even without them.
Cheers,
Tara