Well, that was a rather disappointing after party, mainly due to crowds and long lines. The crowds and ride queues got better as the night went on, but the character meets didn't seem to get any better at all.
9pm - Epcot Forever fireworks, park closed to day guests and can only ride the 4 open rides (Soarin', Test Track, Spaceship Earth, Frozen) if you have a party wristband. I saw lots of people in very long queues for character meets that hadn't yet started.
10pm - Party starts. The "toast" wasn't really anything much at all, although was nice that they lit up the cauldrons around World Showcase. Lines completely insane at character meets (I heard someone say later in the night that it was like a 2-3 hour wait for some characters?). Also pretty long lines at the food and wine booths. World showcase was just very busy in general during this time.
12am - this is when the crowds thinned out by quite a bit. Lines for characters still looked insane (might have been cut off as I saw CMs hanging out near the end of the lines). No more queues at the food and wine booths.
Rides-wise
Soarin generally had a decent wait time throughout the whole thing - I rode it between 9-10pm, and again at around 11pm-ish, and both times the wait wasn't too bad at all (walk straight up to the FP merge line or beyond)
Spaceship Earth - was a walk on when I went on it (before 11pm)
Test Track - around 10pm-ish the posted wait time was 45 minutes. I got into the single rider line and saw that it was the longest I'd ever seen it, so decided to leave the queue. Later on I went back around 12.40am and it was deserted to the point that empty cars were being despatched and the CMs were telling us we could either design a car or just walk straight on through. They actually posted a standby wait time of 0 minutes at one point...
Frozen - Around 35 minutes posted wait time earlier in the night. Then dropped down, was around 20 minutes posted when I rode it after midnight.
I did get quite a few rides in so not too bad, but most of them were in the last hour after the queues all became much shorter.
Lastly, as the night went on, people were getting more and more tipsy and drunk around the world. I don't normally mind people having fun, but I do mind if they start screeching in my ear on rides, or start singing along drunkenly on the Frozen ride... Kind of spoils the ride for everyone else on the ride? I finally understand the whole "avoid Epcot at night during food and wine" thing now...