Our first vacation, we did this because we didn't know better. It was in early 2010, and about a week before the trip, I called to find out how to book HDDR, as DH requested it - he'd done it as a kid and wanted to try it again. The sweet CM on the phone begged me if she could PLEASE make all ADRs for me. So I let her find some good ones. She asked what parks we were going to on what days. I told her I didn't know yet. I think I heard her jaw drop. She suggested I start with what we most looked forward to and work down from there. So based on me and DH's interests, we went to MK, Epcot, HS, then Epcot. Then the remaining 3 days were to hit whatever we felt like again.
Most of the ADRs we made that first trip were at resorts, not parks, so it didn't matter what day we went to what parks. Based on our initial assessment though, on the 3rd day, the wonderful CM booked us into the Fantasmic dinner package at HS, because she said we HAD to see Fantasmic, and she wanted to make sure we got good seats.
The trip was great - we had a wonderful time, there were NO crowds, walk-on to every ride, except TSM, which we didn't ride at all. The entire week, we didn't wait more than 20 mins to get on anything, and no more than 10 mins until day 6 of the 7 day vacation!!! The entire week was filled with delightful surprises, like happening upon a parade or performers in Epcot as we walked around WS. It felt like such a charmed vacation... a new adventure was around every corner! We knew nothing about the rides except what DH and I could remember from going as kids. We didn't feel disappointments (aw, man... too bad this ride is under refub, etc) because we had so much to discover! OH, BUT my sister made me swear I'd eat a Dole Whip. I was really glad for that tip!
I think it wasn't so bad for us too, because while we went into it not knowing if it would be our "one and only Disney Vacation" we didn't feel the need to cram it all in. Once we were there and saw the magic in our DD's eyes, we knew we'd be back, so we felt even less pressure to squeeze it all in.
And now I'm just starting to think about plans for our 3rd trip...
ETA: I didn't find the DIS until after my first trip. And you know, I'm kind of glad. I was able to discover and fall in love with WDW on my own. And now the DIS only feeds that obsession.
The 2nd trip was much more researched, but it didn't really make it better. I'm going in to my 3rd trip with more of a TO DO list, than a touring plan or itinerary. It's more for informed decision making, not creating a plan of attack.