Disney does something where you can check in and walk away from the line, but I believe you still have to wait.
It's Islands of Adventure that lets you blow through the queues I believe.
Sad story: We did a sales meeting on a Disney resort (which was surprisingly cool) in January where they offered us a session on "The Disney Way". One of the things they discussed was the Fast Pass process and we ripped on it. But then we also ripped on the "Princess Experience" and on their tattoo policy. Come to think of it, I guess we're just assholes.