Great idea! You could have your own personal 'insider' to get you through the parks faster!
Definitely wait until she's not scared of costumed characters. My son grew up at Disneyland...literally. Gabe and I both worked there so his first trip was to the Disney Family Christmas party when he was 10 days old. We went at least once a week until we moved to GA when he was 6. Even though he had seen characters for his entire life, when we went to WDW when he was 3 he cried his little heart out because he was scared of the characters. Breakfast was a zoo every morning since we did character breakfast every day. ARGH! It made no sense other than he was seeing them in a different environment than usual.
OT - Definitely Magic Kingdom with a 5 year old. I believe they are in the midst of a redesign of Fantasyland so be prepared for some construction walls. Animal Kingdom is fun for kids too with the safari ride to see the animals and the Bug's Life Tree of Life show. There is a great parade too!
There some great shows at Disney Hollywood Studios but most of the attractions there are more in line with older kids and adults. Definitely go for the shows though.
If you plan on going to one of the water parks, my personal favorite is Blizzard Beach. I didn't really enjoy Typhoon Lagoon.
T19 M15 S19 XH47 M43 bomb12/4/07 PA5/07 S12/26/07 D final 11/17/08 Back together with no defined R 05/2010 confused....to say the least!!!