POR is relatively close, I would head out about an hour before park opening. They do have a small opening show and then they let you into the park. People are big fans, because the park doesn't get "busy" for an hour or two after opening. So you will have one or two hours to ride LOTS of rides, with little to no wait.
It's usually recommended that you hit the Fantasyland area, because later in the day that area is absolutely overrun with family's, and most rides will have decent wait times. But if you don't have small children Fantasyland may not be your area of choice. So go where you'll be happy and enjoy (almost) walking onto rides before the rest of the world wakes up.
I agree with all of the above.
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Concerning "Rope Drop" in general-
Here's what's been happening in most of 2012:
Only MK still offers a Rope Drop SHOW along with an inside-the-gates holding area.
MK Gates open approx. 15 min. "early."
But, the Rope Drop show is timed so that guests will actually enter the PARK very near the actual opening time.
MK's Rope Drop Ceremony called "
Magic Kingdom Welcome" (see location
HERE.)
Guests are usually admitted starting about 15-20 minutes before
the posted opening time, to WAIT just inside the gates, in front of the train station (near the "flower Mickey face.")
The ceremony lasts 6-7 minutes or so and starts 6-7 minutes before the scheduled opening time.
There is also a "mini" version (far less "hoopla") that lasts about 2-3 minutes.
There is also an "AUDIO ONLY" version (no characters at all) that lasts under minute.
Which one you will see can be tough to guess.
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DAK no longer offers a Rope Drop SHOW,
but still has a "rope" (guest holding area) at a location past the Oasis, near the Tree of Life.
DAK Gates open approx. 15 min. "early," but guests are held behind the rope
until about "straight-up" posted opening time.
Epcot no longer offers a Rope Drop SHOW, AND no longer offers an inside-the-gates holding area.
Epcot gates (including the International Gateway) will likely open approx. 15 min. "early."
DHS no longer offers a Rope Drop SHOW.
DHS Gates likely open approx. 15 min. "early."
(DHS has opened as much as 30 min. early, but that's not been the case every day.)
AM EMH entrance times seem to not be affected (figure entering 2-10 minutes before the AM EMH time, as usual.)
On AM EMH days, MK will offer some form of their Rope Drop Show
(may or may not be the "full show")
only for AM EMH guests,
and no show at all for the regular hours open time that morning.
As always, for better positioning in the crowds, arrive
well before the posted opening time at all parks.