Marcie and Doug
I am envious of each of yours journey to South America. We did Lima to Buenos Aries last year on the Mariner and loved every minute of it.
Marcie, I am so glad you are including Machu Picchu as it is a wonderful experience along with Igassu Falls. We were fortunate in doing a private tour of six nights to M.P. Cuzco, Sacred Valley plus three additional nights in B.A. and two nights for the Falls.

As for the Penquin tours, if I were to do it all over again, I would
probably book two excursions just to cover yourselves.
Fortunately, we booked the Falkland Island penquin tour which was excellent. However friends of our did not book it, choosing another and knowing the stop at Camarones included the ships complimentary excursion to the penquin colony. Due to inclement weather the Camarones stop was canceled. Our friends were indeed upset. On that same trip, prior to our arrival in the Falklands, other ships had to cancel their scheduled visits. We lucked out with a break in the weather and were able to do the fun journey to the colony.

Signing up for two penquin excursions could help prevent disappointment.

What a great trip you will have. I cannot wait to hear your reports.
Deanna