Had some difficulty booking this which I expand upon in the trip report but as some were waiting to hear about them thought I would post a bit
EPCOT - infront of the Tangerine restaurant on the walkway to the pier. View looks obstructed when you are waiting and you do miss some of the balls transit out to the lake but the view was infact perfect. Best bit was we shared the area with about 4 other people only and only had to turn up 10 mins before showtime which meant no fence hogging for an hour.
MK - not so good. Plaza terrace just by the noodle station ( which was open -to tell you how busy it got in Feb!)
View in the seating area is 95% obscured by trees - ended up nearly leaving the area as this was our last evening there and we really wanted to see Wishes- ended up watching from the top of the exit ramp well away from the area set aside. Personally I wouldn't bother with it, it is an appauling choice for 'preferred viewing' , unless the only thing you want to see is Tinkerbell.