Thank you all very much for your input.
What I am gathering is the parade takes about 15 minutes from beginning to end, but it will take approximatley 40 minutes for the parade to make it to the end of its route. Therefore you have very limited time to make it to a new spot before CtM. If you try to watch the parade in fontier/liberty square, you will find it very difficult to make it to in front of the castle and find a spot for CtM/wishes. On the flip side, if you start on mainstreet/hub for the parade, you can stay there completely for parade and Wishes but you will be dealing with large waits and aggressive crowds.
Utilizing the FastPass for viewing Wishes largely solvesthe problem in you have a pretty good viewing spot reserved to see Wishes/CtM after the parade. If you don't get a FastPass, a good solution is to view the second show on nights where it is available. If you are going on a night with one viewing and don't have a fast pass, there is no ideal solution to view both other than to endure a long wait and aggressive crowd in front of the castle.
Does that summarize it about right?