I'd really recommend staying at Hotel Breakers -- that way, if the weather is bad, you can go back to your room for a break, and you don't have to fight morning traffic and such. If you go early in the season (until about mid-June), you can get really great package deals that include the room, a few tickets, discounts, and stuff like that. That really is the best time of year to get on rides quickly, too! You'd definately get everything, most of them several times.
A trick my family used when we went for 2 days (we only went every other year), was we'd find where the new ride's entrance was, or the entrance to the ride we HAD to go on, on the first day. Then, right when the gates opened on day 2, we'd run right for that and wait for it to open. You're still waiting an hour, but nothing else is open so why not?
Have fun! *GRIN*
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Disaster Transport '97 Crew
Iron Dragon '98 Crew