I didn't do it last year, but I have done it three or so times before, and all relatively recently. I've also done the 3DDDDDD(dddddd) before it disappeared, which was very similar (just smaller, and with a lot more hard liquor).
I'm sure a more recent review would help, but...
First, there is a ton of food and drink. For the Party for the Senses, none of the food/drink is repeated. All around the room are various long tables...
Sort of like this, maybe?
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On the long ends will be the food (actually, I think there's usually only three food stations per end). On the short ends will be drinks. They usually try to make it so that the food and drinks served at the tables compliments each other to a degree. IE, this particular table might have a steak, a hamburger, a ravioli in red sauce, and a hearty fish done with heavier seasonings... and thus the tables will probably have mostly red wine. The 'C.'s will be chefs and their assistants (and sponsors of the drink companies). On the side(s) of the room are often just one sided tables, and they usually have desserts, famous people (as people not only want to try their food, but also get a photograph and thus would clog up lines), mixed drinks and the non-alcoholic lemonades and coffees and teas and whatever.
Even with the extra 15 minutes you could get with reserved seating, unless you have a large party where everyone basically runs off, grabs two food items/two drinks and brings it back to the table and everyone takes one tiny bite, it is very unlikely you're going to be able to get everything. In fact, I would say that probably trying every food and every drink is likely impossible save for maybe in that situation (and even then, it would be hard). This is probably okay: there's likely some stuff you're not going to want. Fair!
I don't drink beer, so thus I don't notice it that much, but I don't remember there being much of a beer selection of the Party for the Senses (though there are some). There are a good amount of wines; you'll fine sparklers, whites, reds, sweets, dries, desserts. There are other alcohols: usually near the desserts they have cordials and after dinner drinks (such as scotch). There are usually a selection of mixed drinks. Back when Scandanavia used to have a booth, the Xante people would make one of the best mixed drinks I ever had in my life... sigh. They don't get invited anymore, I think.
(Generally, that's a good idea for the party as well. If certain chefs or beverage companies are doing seminars the week of (especially the weekend of) your party, they (or at least a representative) will likely be at the Party of the Senses for that weak.)
Non-alcoholic drinks are a bit more tricky: they tend to have a lemonade, a spa water, coffee and tea (coffee is Joffery's- last time I went, the tea was Twinnings, but maybe they've changed that), and maybe a juice. The mixed drinks are generally premixed. If you don't drink alcohol, getting your moneys worth at any of these party's can be hard.
Food? Seriously, there can be anything and everything. It changes each year: heck, it changes a bit each week. There is a lot of meat: again, a vegetarian will likely not get their moneys worth, and a vegan will really have it rough. Often, the various chefs (or more commonly, their apprentices/some kid in the food department) serve little dishes of what is seasonal, ideas they're thinking of putting on their main menu, something they just like... whatever comes to mind. Just when I thought I had some things figured out ('Okay, the person from Nine Dragons will always serve duck...'), NOPE. All that can be said is there is a huge variety of food. Some of it is plain, but most of it is made for foodies: if one just likes meat and potatoes, again, this isn't going to be a good place to get one's money worth. You'll find spicy stuff, 'ethnic' (I really don't like that word) stuff, and just stuff with names you've probably never heard of.
All of the food and drink locations are given to you in a little guide. Each location has something like a giant purple wine glass hanging over it so it's easily identifiable. So you can look up, see the steak you want is under the purple wine glass stand, and then there's generally six or so different food's being served there: finding the steak won't be too hard.
Things to note: with all the food and drink out and about, you really don't need that little champagne toast, much less the bar/cheese. For reserved seating, the thing people are paying for are the seats (and maybe the 15 minutes). I've never done the reserved seating: I think the price is ridiculous, and while it is somewhat centrally located, that just means it's farther from the back/front. To me, grabbing food and standing and eating it (or finding a lean table nearby) and going off to the next thing is a better used of my time then walking all the way back to the central area, showing my proof, sitting, eating and then getting up to fetch more food. If you are someone who wants/needs a table, though, you really probably want that reserved seating. When the place first opens up, there are simply not enough tables for everyone (later on, they add tables back in the holding pen where you first wait, which generally eases the crowds). You also basically have to have someone sit and hold that table if you want to keep it: it's not assigned, and I have more then once seen people take a scarf/hat someone was trying to use to 'hold' their table, toss it on the floor or under the table, and happily sit down (I don't really approve of that, but I don't really approve of trying to hold a table, either).
Honestly, as a party of two who often split up, I would generally just wander and if I saw a table with an open space, take it, while if there were people there I'd ask if I could share for a moment (that seems to be usual etiquette- people will come and go). If not, I'd just eat standing up, which could sometimes be a difficult balance if you have two food items/one drink and your food isn't pick up material, but er, it helps you increase your manual dexterity?
Finally, things can and do run out. Things that seem the most likely to are food made by an actual celeberity chef (so if Cat Cora is there cooking, just get in the forever long line if you really want her food), 'reserve' liquor (AKA, if it costs a ton, it'll probably go fast, as they only bring so many bottles), and... the chocolate truffles. They still have those, right? They had them every year, usually in the back, with tons of different flavors... and by the end of the night, they can be down to three flavors, if they have any. Eat dessert first!
Ooof. Anyway, the reason why we didn't do it last year or this is well, it's... actually sort of exhausting in a way. A lot of running around, standing in lines (these things are being cooked in front of you, and thus there can be back ups- and people talking to the chef/trying to get pics can back it up even more), trying to find somewhere to sit/lean/not be in the way, figuring out what you haven't tried and getting to it in time (I wish the party was like, 30 minutes longer, as there's inevitably like five things I wanted to try that I miss) and so on. It's a lot of fun, and if you're an adventurous eater that is willing to drink alcohol, I definitely say you should try it at least once (if not multiple times), but I think I figured I prefer to spend money on the signature events where they bring my food to me. >.>