Basically we are going during the "slowest" time of year, and going on a non-EE day, and hauling butt as fast as possible with a 1 yr. old and two grandparents plus myself and dh, STRAIGHT to Fantasyland and into the Dumbo ride line, where we will promptly "count off" so our ds can ride it several times in a row per Bob's infamous "Chuck Bubba Relay" instructions in the UG. I have not been on Dumbo since I was 7 years old at Disneyland, mostly because of the lines. But I love elephants and want it to be ds's first MK ride, dangit! Luckily he is too young to care about ToonTown or meeting characters so we can hit the pachyderm first thing!
If you head right there, you'll be fine. We didn't think we would get to ride it last year and we did. DD was 11 and didn't care so much if she didn't. I like the view more than anything. Dumbo is so darn cute too!!