The Electric Parade going to Hong Kong is WDWs original EP floats not DLs. There are 2 sets of EP floats. The orignal set started in 1972 at DL, and stayed there until 1996. Then the floats went to WDW, and came back to CA and went to DCA in 2001.
WDW had their own set of Electric parade floats. Those then went to Paris. They were then sent to WDW to be cleaned up are going to be (or probably have already been) sent to Hong Kong. So I wouldn't expect Electric parade to leave just because of Hong Kong.
Before Friday night I probably would have said Electric parade, then do fireworks. I saw the fireworks Friday night. I now say, Fireworks. especially if you've already seen the electric parade.
It is difficult to get a good spot close to the showing of the fireworks. I was with my sis and her fiance and they insisted on walking around the park and getting there 10 minutes to the fireworks starting. Then they complained that there were trees in the way and we didn't have a clear shot of the castle.
The best view is to see the matterhorn, castle and the fireworks, which are behind and to the left of the castle. It is extremely crowded. The parade starts at 7:45 going up mainstreet, and all the people follow the parade up and park in front of the castle. Then Fantasmic ends shortly before the fireworks, and all the people stream out of fantasmic to see the fireworks. It is a mad house of people, and they block off walkways so there are areas where you are not allowed to stand.
The fireworks are wonderful. So much going on, it's not just your typical ooh aah fireworks show, it's so much more. I would not miss this. Since I live in Ca, I know I'll be back to see the fireworks, but had I only had Friday night to see them, I would have wanted a much better view of the fireworks.
Donna