Being an Orlando native, I would encourage you to try and do some NON theme park stuff. As much as I like Disney (I'm a stockholder!), there are lots of other things to do. We have a lot of wonderful lakes and great weather that time of year.
Also, downtown has really experienced a revival in the last couple years. lots of great bars along Orange Ave/Wall St. area. Also some really great restaurants in the Thornton Park and Winter Park areas.
Depending on when exactly you come, you might be able to catch the Orlando Shakepeare Festival - they pick two plays and perform them alternating nights at Lake Eola. They actually have decent actors/set design/etc. so it's a good show.
If you like improv theater, check on "SAK Comedy Lab" - it's similar to the "Whose Line is it Anyway?" TV show. They consistently seem to have a really fun show. Check it out:
www.sak.com
If you like shopping, there are some killer outlet malls along International Drive. They have an Off 5th (Sak's), and the hugest Ann Taylor Factory Outlet (my home planet!

)
As far as hotels go, you could stay closer to downtown for a lot less than by the themeparks - depending on traffic, you can just take I-4 to the parks. If you're getting up early to go to the parks, you'll miss the main rush hour.
Again, nothing against Disney, but there is a lot more to do here. Plus, if you're here for 5 days and spend 5 days at theme parks you will be BROKE and EXHAUSTED at the end. Whoever had the hint about bringing food - definitely! Go stock up on granola bars, etc. Bring a backpack and take turns carrying it - good way to carry little souvenir stuff too.
- G8Ralphaxi