So the original Fantasmic! gave me goosebumps & had markedly more heart than the WDW version. The newer Fantasmic!, while the effects are every bit as cool along the scale of the Rivers of America & the new expanded projections are very well done, it’s not as must-see to me as the former version was. And for the record, I tried to be really excited about the changes & have no objections to them each individually, but something about the sum of them makes the newer show just a bit less.
Add in that the show are is much harder to get in & out of & is much less convenient than WDW’s and it really makes it tough to absolutely recommend. Although, if in the budget, I do highly recommend a dining package to see it as that instantly makes for a much better experience. Just a note though that the non-premium dining packages require you to sit on the ground for the show. There’s one premium option at River Belle only that does have you sit for dinner an hour before the show on their patio and then stay in your seat for the show. I find this view of F! to be a little far back to really appreciate the scale of the effects (and another reason why the dining package always wins for us, because even with the cheapest Hungry Bear On-the-Go option we can get a fantastic view near the front & close-ish to the center to really appreciate the effects in your face).
And as for World of Color vs. Fantastmic! - as a show itself I do prefer F! to WoC, even the newer version of F!. But WoC with a FP is just so much easier to enjoy with less hassle than a F! FP and is still very awesome, so we end up seeing it way more often.
ETA what DCA are party specific: I’m almost 100% sure that the new Villanous will be for the party only. As for the GotG overlay … I hope it won’t become party specific as we love it, but I wouldn’t be surprised if on party nights it is pretty much just party specific. The last 2 years they have done FPs distribution differently. The first year FPs for the After Dark version became available at 3pm with the first return times being 5pm. Last year, rather than wait until 3pm for that distribution to begin, they just allowed distribution to flow from the start and once the time hit 5pm your FP was for the After Dark experience, with the notation on all FPs distributed that any time after 5pm would be the After Dark version.