Rope drop at MK is awesome! IMO nothing is as magical as being one of the first to walk down Main Street in the AM. The ceremonies are a great way to set the tone for the day and our DD even thought it was worth turning out of the room that early. If at all possible I recommend crossing this one off of your bucket list.
As a side note I think you can still make ressies at CP for before rope drop and they let you through the gates before opening which means you get some cool photo ops walking down Main Street while it is totally deserted.