I've done the CP at least once a year since 2003. I have done the CP pkg each year..once. Then, if there is a show going on, when I'm in that area, I will just stand on the sidewalk at the rear of the theater and listen and watch from there.
As far as whether or not the pkg is worth it...can't say. I have bought it in years past. But last year, when Disney made it 2 TS credits, it was way overpriced. It had always been 1 TS credit. Yeah, they gave us 'preferred' viewing for IlluminNations..but I have to tell you..if you were staying at an Epcot resort and needed to get to the Intl Gateway after the show, it was really awful!!!
And yes, you do have to stand in a long line even if you have the pkg. They open the theater to pkg holders about 10-15 mins before the show starts. Then, they open the theater to the standby line about 8 mins before the show starts. I usually get into the line when it's down by Japan..and I usually end up waiting about 40 mins.
The standby line??? It all depends on which show you want. I do know that when I was in WS once, I noticed a woman sitting on one of those collapsable stools, in the standby line. The first show is at 5-5:15....I saw here at 3!!! When I returned to that area, about an hour later, there had to be close to 100 people behind her. For the later shows, I have seen very long lines, with only about half those in line actually getting a seat. Other times they have all gotten in. A lot depends on the narrator.
For instance...2 years ago, my friend and I were taking a
Disney cruise...departing on Sunday. Well, we were going to arrive in Florida on Sat just to be sure we had no issues getting to port. We had a room all booked over in Cocoa Beach for that night. BUT...when the narrators were announced for CP, we changed our plans!! We both wanted to see Brian Stokes Mitchell in the worst way. So, we cancelled Cocoa Beach, booked a studio (we both own DVC) at OKW and called a car service to get us to port.