Hi Neeper,
The first time I went to Europe I did a Trafalgar Tour. It wasn't bad, in the fact that you do get driven around and taken to all the touristy places that you would most likely see, BUT, it is very limiting.
Up early in the morning, very quick breakfast and then shoved on a coach ready for your next destination with hardly any free time to see the things you really WANT to see. I missed out on so much, that 2 years later I was back doing it all on our own with a Eurail pass and as much free time as we wanted!
Besides that, though, you WILL have a ball, and you will see some wonderful things, and of course will be left wanting more! And no matter what, unfortunately on those tours, you will look like a tourist!!
BE CAREFUL!! Do not put your bag down ANYWHERE, or leave your wallet in your back pocket-you will find it GONE! I had all my money and passport/documents/tickets in a bum bag I wore UNDER my clothing, so no one knew it was there!
I did have an 'incident' in Rome on a busy main road where I had my camers bag slung over my neck and shoulder, and a hand on the strap, and a can of drink in the other hand. 2 gypsy kids came up to me, one shoved an old tatty newspaper at me so I would take it (which I didn't!), while the other went behind me to try and pick pocket me. The one with the newspaper grabbed my hand with the can of drink in it. I yanked it away and shouted 'F*** OFF'! It was all over with in about 2 seconds and they ran away empty handed. Thankfully!!
You do really need to be careful, and have your wits about you AT ALL TIMES!
Have a fabulous time, and really looking forward to seeing some fantastic photos, and hearing your experiences! GOOD LUCK!!