The seating is crowded, but it didn't bother me at all. Neither did the noise. It was one of the best character meals we had. (BTW, our other fav was CP.) It's nice because Cinderella, Prince Charming, and the Fairy Godmother are all "face" characters, which means they can talk. The food was the best of any buffet we went to. Be sure to save room for dessert.
As for not getting a PS, depending on what time of year you are going, you may be able to get a walk up seating. The PS were all booked when we went, but I noticed when we left the Garden Tea Room from tea that the restaurant was fairly uncrowded. When I asked the host he said that showing up between 4:30 and 5pm there would be a chance for a walk up seating. Since we were full from tea that day, we tried it another and were able to get seated without PS (this was the second week of May). No guarantees, but if you really want to go, it might be worth popping over from the MK, since it is so close.