That's what we did on New Year's Day at Studios. We had the Rise ILL and had already booked SDD on
Genie+, so we went directly to Sunset Blvd. The park was supposed to open at 8:30, early entry at 8:00. We got through the gates by 7:30 and were lined up along Sunset Blvd. There were 2 lines - one for RNRC and one for ToT. They took us back to RNRC well before 8:00 and we walked all the way through the queue, rode it, got off, and circled around to ride it again and it was still only 7:55. Afterwards, we went to ToT and we did have to wait probably 30-40 minutes. I didn't know that they were running at half capacity until we got to the elevators. Until we got close to the front of the queue, they weren't even running 2 elevators, just 1. I think we were in the first group on the second elevator.
But it was definitely a solid plan, even on such a busy day. We went from ToT to Runaway Railway and only waited about 30 minutes for that. We were able to do everything we wanted to do by 5:00 or so, despite it being so busy. We did Star Tours, Smuggler's Run, Muppet movie, Railway, Toy Story Mania, and SDD and the longest we waited standby was probably 45 minutes. We used Genie+, stacking the rides as we could book again, and felt like we had a great day there.