As long as the ride is cool, e.g. a high thrills coaster, then I'm OK with most of the theming being in the queue. Some sound effects and maybe some shadows as you dash forward would be good in my book.
If we're going at Taron speeds (up to 71MPH? What? I forgot about that), any theming within the ride itself would need to be overexaggerated to make sure they are noticed.
This is, of course, assuming that we're actually getting a Taron speed ride, and not just the compactness. @Alicia, I can't remember which side your thoughts/rumors were falling on.