I will chime in here.
I would stay away from Disney. I do not have any experience with Disney, but I can tell you that I have worked ESL jobs before, and the international schools that I have worked for since generally do not look highly on that sort of experience, even though it is teaching.
I can also say that from my experience, teaching ESL in a private company like Disney is in fact nothing like teaching in an international school.
That being said, I have also worked in NET schemes such as the one in Hong Kong. Basically, neither job is much good for preparing you for your next job, however, pay with NET will be substantially higher than with Disney. Also, in terms of networking while on-the-ground, there are far more international schools (and local schools that will hire you) in HK than in any city in China.
In terms of your worries about contracts with NET. I suppose it may depend if you get hired via a recruiter or not, though I am not sure about this. There is lots of info online, including a site made by NET teachers. My impression is that while each school has its issues, the program itself is a good one.
I also think it depends on what kind of lifestyle you want. China with Disney will be much as ExpatGuy describes. HK with NET will allow you a very decent standard of living with international vacations and at least most of the expat lifestyle choices.
Just my thoughts.