Hi,
Since your party has a 2-year-old, I thought I would throw out some things.
In the summer, sometimes it is challenging to keep young kids cool who are too short for the water rides. They often have little water sprinklers set up around the park. (The new kids' area is supposed to have the water jets in the ground, right?) I would consider bringing some water shoes as well as sneakers for a day at SDC. Also, bring a change of clothes. If he does play in the water to cool off, you will want some dry clothes. Also, consider eating in a cool, air-conditioned place. The building known as the carousel barn used to house children's activities in air conditioning, but I don't know if that is in the plans this summer. They used to even have rocking chairs in there. Also, we would often come at rope drop and leave for the afternoon when it got really hot. Sometimes, we would get a cup of ice water (free) and fill up my daughter's sippy cup. Then I would use the rest off the water to wipe down her face and arms, etc.
You can bring in toddler-friendly snacks and drinks in your bag.
You may want to consider a place to stay with an indoor pool if you have a little one. If it should rain, you will have a place for your child to burn some energy. Southern Oaks can give you a room with indoor corridors to the pool. It's not a fancy place, but with young kids, it's something to consider. The Best Western that Swoosh suggested also has an indoor pool, but I have never stayed there since it seems it is usually a little more than Southern Oaks. I've also stayed at Angel Inn, and it has an indoor pool. If you are not worried about an indoor pool, many places have outdoor pools.
If you are going to explore Branson, the fish hatchery is a hit with toddlers. You can feed the fish, so bring a cup and some quarters. We like to eat at the Branson Landing in the evening and walk the Landing after dinner. Even if you don't go in the stores, it's a nice place to push the stroller along and see the water fountain show. The Bass Pro has a large fish aquarium. There is a play area near Joe's Crab Shack.
If you are considering a show, the Dixie Stampede is good with toddlers, although it is a little pricey. My five-year-old has been twice, and she was completely mesmerized both times. You probably would want to buy your grandson a seat, though, rather than trying to balance him on your lap while eating. If you don't want to see the show, you can still visit the horses in their stalls before and between shows.
Over the fourth, at some point in the weekend, there will probably be fireworks at the Landing. Our favorite display, though, is the one over the lake near Chateau on the Lake. You can usually stake out a decent place to watch.
I hope you have a great trip to Silver Dollar City!