My take is, if you can't make it to an AM EMH at the start time, don't go at all. Don't join the masses half way thru a burned benefit. Better to go to a park with a 9am opening than to join a full park.
Also, have to concur that for dropping that kind of coin, you're going to want to savor and enjoy. In reality, you could walk in, grab 2 plates, pile 'em high, eat while walking along the food, load your food into a paper napkin and chew while you pay and walk out. But, that's not what I would call great use of a character breakfast or my vacation time. So, I usually plan character breakfasts for sleep in rest days. But, if that's not available to you, consider eating a light muffin/banana type breakfast in your room, head to EP for AM EMH and be there at 7:30. Tour until 10:30-11 and then head over to Cape May and enjoy, fill up and count it as lunch.