I've been to three practice rounds and two tournament rounds and prefer the practice rounds. Everything is more relaxed.

There's good advice in this thread. Main point I would add is that the Masters "patrons" are awesome. You can take your lawn chair, plant it where you want to spend your sitting time, then leave it to walk the course. No one will mess with your stuff.

For a practice round, I'd definitely spend some time at 16. As players walk up, the crowd will be chanting "skip, skip, skip." Any player who doesn't try to skip one across the pond and onto the green gets booed in a good-natured way.

Another thing you'll notice is how organized everything is, starting with signage on the interstate as you approach Augusta. They make it pretty idiot-proof as far as how to get to your parking lot and the like. This is the upside for hosting the same event in the same city for several decades.