I enjoyed reading this thread! A lot of it really does come down to "different strokes for different folks"! We took DD right before she turned 3 - so we didn't pay for her admission or food. We knew we wouldn't see everything we normally would on our own, and knew we would return when she was older. It was tough because she wasn't totally potty trained yet, so we still had pullups and night time diapers, but we still had a wonderful time and she remembers a few things.
I think that some of us diehard fans sometimes forget that for some people, this really might be a "once in a lifetime" trip. If that is the case, then, yes, I would wait until a child was older. Also - we always stay onsite now, but in the early days of our marriage, we stayed offsite twice, due to finances.
Food wise- TOTALLY different tastes among people! We live in an area that has some of the best restaurants in the country, so the food options in WDW are ok in our opinion. Nothing to "write home about". Now, if your idea of Italian cuisine is Olive Garden, you might be thrilled with the food. Either way is fine.
Park Hoppers - we always get them, because we like the option of heading into another park later if we so choose. And we never go for rope drop, because I could never get hubby out of the room that early. lol
What I have found is that I don't give any advice unless specifically asked, and then I preface it with - "this is what has worked for US."