[kirbinster]

Your biggest problem may be that you have slow glass with your kit lenses, this may make the early morning shots questionable and at high ISO. You will be fine once it gets brighter. I would bring both your lenses. Actually if you could borrow a second body you would be even better off. I typically shoot ballons with either my 18-200VR with a CPL or use my Sigma 10-20mm HSM on one body and either my 70-200 f/2.8 or my 70-300VR on a second body. Pay attention to your surroundings and try to get shots with multiple ballons at different angles. I have two sets of ballon shots on my flickr site you might want to look at and check the exif data (not that I am a super expert on ballons). Here are four shots I grabbed to show you, I really like the one with the up high ballons above the grounded ones which is first: