Hi Carissa,
Thanks for visiting the Disney Parks Moms Panel with your question. In my experience, the interaction with the characters is very similar at the character meals, whether you dine at breakfast, lunch or dinner. So I try to plan according to food preferences and schedules. For example, my family isn't big on breakfast or on getting up early, so I seldom make a dining reservation for a character meal or buffet at that time.
We tend to like to do character buffets, such as the one at the Crystal Palace with Winnie the Pooh and Friends, in late afternoon and make that our big meal of the day. It gives us a chance to rest our feet, have some great food and meet some of favorite Disney friends in one place. I feel like we get the best value for our money then.
Other people I know love scheduling character meals very early at breakfast so that they don't miss a minute of park time.It's really a matter of personal taste.
I hope that's helpful. Please let me know if I can answer any other questions for you as you make your plans. Enjoy!
Wilma