My main city is producing upwards of 300 fp per day, and is mostly filled with event buildings and great buildings.
At this point I need very little population, and in fact only need 494 of the 4354 population I have. I don't have any production buildings to speak of, my Sunken Treasures that usually produce fp become general production buildings during events. Occasionally I throw out a couple of blacksmiths. I once had an Inno Tower, but got rid of it (it was only at level 3 before I didn't need the population anymore and it became more of a burden than a boon).
My happiness is mostly taken care of by some set pieces from the Cherry Garden sets or Palace sets I have out, or other event buildings. I don't have any normal decorations, a HS, a Traz, or any other dedicated happiness GB. Don't need them since I am sitting on 14.7k of happiness, with an excess beyond 120% of 8.7k. HS and Traz each take up a huge amount of space that can be better used elsewhere if you don't need them.
The point is, with some smart city planning and the right mix of event buildings and great buildings, you really don't need to worry about happiness in the lower eras. I won't speak to high era cities and their needs because I don't have any cities in those eras.
If you have access to the AD, get some Cherry Garden sets out. The only thing that really beats them in a 5x5 space is the new Asylum, and it doesn't provide happiness or defense.