The Monorail will always be faster in the morning than the Ferry. But the catch is, is that if the Monorail line is incredibly long, it may just work out better to take the Ferry. I take the Ferry when I am not in a hurry to get to MK and I really enjoy the boat ride, and the Monorail when I want to get there fast. Keep in mind, the Monorails seem to break down ALOT these days, so give yourself PLENTY of time to reach your destination.
Click HERE for Magical Minute #18 or HERE if you missed Magical Minute #16.