We thought it was worth it- we always had a seat, and not having to wait in kiosk lines was great. That was worth a great deal to us. By the time we factored in the better seating and food delivery (and we used the seating to get spots for Illuminations ahead of others), the $50 gift card, the in-room wine and chocolates, and the admission to Late Night Live, we thought we got more than $199 of value.
We thought the F&W Premium Package was well worth the value, too. The Gift Bag with wine, chocolates, an etched souvenir wine glass, a $50 Disney Gift Card and a F&W-themed MagicBand
was per person, not per room. We signed up at the beginning of the offer and CMs were saying the Gift Bag was per room, which didn't make sense. The wording in the offer was changed to say "each person."
There was one screw-up because we signed up at the very beginning. In early info, there was no stated limitation on when you could use the package except it was being held from Mondays thru Thursdays at Epcot during F&W. Our schedule meant we would go once on Thursday, then the next Monday. As more info about the F&W Premium Package came out, a purchaser could only use the program within one Monday-Thursday segment, not spill over to another week. That was a problem for us b/c it meant we could only go on Thursday of one week,
or Monday of the next week. In that case, the Package would be a waste of $$ but we already paid for it, and it was non-refundable. It was worked out for us with kindness and care, but it came under the Disney realm of "special exception." Whatever.
One thing I'm wondering about this year is the Late Night Live! party ticket. That was included in the $199 F&W Premium Package cost, and it was also advertised to the public for $75. The party was held from Epcot Canada area to the main path towards Future World, and went on from 9:45pm-1am. Admission included entry to Epcot after hours, and tear-off tickets for one alcoholic beverage and five food items of your choice from the handful of available open food kiosks. There was a dance performance, and live bands in a few places. The Late Night Live! parties were well-done but at our party, which was the first one held, there wasn't a big crowd. So I wonder if WDW will hold these parties again. If not, that would be the tipping point (for us) on whether $199 is worth it. If the Late Night Live! parties are held again this year or substituted with something else of quality, we will buy the F&W Premium Package again.