Knott's usually has a fireworks show. There are also lots of other shows to see including the very popular (and air-conditioned!) Snoopy Ice Show. I am sure there will be additional Krazy Kirk and the Hillibillies shows too.
Knott's gets very crowded on the Fourth of July. It depends on the weather and what day of the week July 4th falls (which is Friday this year) as to how crowded it does get.
I have seen their fireworks. If you go expecting Disney quality fireworks, you will be very disappointed. However, they are still good, and the crowds are way, way more managable. That alone almost makes it worth it. As I recall, the Boardwalk area offers the best views, but they can pretty much be seen from anywhere in the park.
Wow, fast replies. The Hillbillies scedule will play in the decision, too. Will see DL's FWs, as well, but deciding whether to go to KBF on the 4th or 5th. Any tips appreciated, first year with a Cedar Fair pass so I'm still learning about Knotts.