We went on the cruise with my DH family (sil bilx2 nieces age 3, mil and fil) We is myself (34) DH oldest son 3 +1/2 and youngest son 15 months. We went to disney for a couple days before the cruise - it was fun and a good way to settle in.
I would not have booked this cruise with my kids at this age but it was paid for by the family (thanks!) I cruised previously with my older son when he was 18 months and after days of chasing him around and begging him to let me take a bite of dinner I decided cruises for my kids between ages 1-2 and a half were out. That being said I love all that is Disney and have to say the Magic is a great boat.
Here were my hits and misses: