Its Thursday night and I just made two out of 4 cakes that will be decorated on saturday for my son's party on Sunday.  I'll make the other 2 cakes tomorrow.  should I freeze them or just keep them in the fridge until saturday?  Once I start icing and decorating the cakes will have to stay out at room temp since I don't have space to store it in the fridge.  

I personally would freeze.  It's my understanding that the fridge can dry out cake, but the freezer should help lock in some moisture. 

Once you bake them, let them cool COMPLETELY then wrap them twice in plastic wrap and store in your freezer.  Absolutely nothing bad will come of the cake as long as you wrap it properly.

Once you are ready to use it, let it thaw out completely before you attempt to frost and stack it or it might settle funny.

Thanks guys.  I have one in freezer now but the other is still hot so I'll have to do it tomorrow morning.  How long do 12 " and 10" cakes take to defrost?  I haven't made a cake in 2 years I feel clueless!