My suggestion would be 12:45. Then book your FastPasses for before lunch. Use the Touring Plans software to make a customized touring plan - rope drop and get as much done before lunch, fitting in your FPs. Use the Modify Trick to get more FastPasses beyond your first three, and you’ll have an amazing, low wait day.
12:10 is a bit too early IMO and 1:20 is fine, but late if you are hitting Rope Drop.