Personally, I think Wishes is my least favorite out of all the nighttime spectaculars. IllumiNations is #1 hands down. The music is so powerful, so moving...the multimedia experience is great too - the lighting, the movement of the earth ball like a ballroom dance around the Worls Showcase...but in addition to that, the only time you are going to see a better actual firework display is during Hallowishes. The fireworks here are massive - double what you're going to see at Wishes. I think IllumiNations is worth the price of Epcot's admission alone...
I think Wishes is just below Fantasmic! because: a) Fantasy in the Sky was MUCH better, b) Wishes is super disjointed and doesn't really touch into any sort of emotion, c) the guests always make it hard to see the castle projection (holding up giant IPads in front of your face, putting their kids on their shoulders so now the slew of adults behind them cannot see anything at all), and d) the pre-show is much more interesting than the show itself. Again, just my family's personal opinion...