I don't ride it all the time, but to me it's still one of the best if not the best ride in the park. There's just something different and special about it. Maybe it's the flying aspect and being over London, but to me there is no better ride in the park. I know the line is long, but I've never complained or thought it was a problem. If you want to try and get on it quickly then wait until they close Fantasyland for the fireworks and line up for Fantasyland near Mr Toad.
You could never add fastpass to peter pan, the capacity is WAY too low!
That line is hands down the WORST line in the whole resort. Try waiting 50 mins after doing the gumball rally all day and being totally exhausted, lol won't be leaving Peter Pan for one of our last rides next year!