I know we're in the minority on this board, but we really enjoyed Spirit of Aloha. We went with a family group of 10 -- the youngest were 7-year-old twin boys. Everyone enjoyed it. The food was tasty and the show was great. I think people call it "lame" because the first part is a little juvenile -- about a girl coming home to Hawaii after something.... school on the mainland perhaps? I don't remember. But, once the traditional polynesian, New Zealand and other South Seas dances start, it's really great. Also, they have kids who want to do so come up on stage. They teach them the hula and it's very cute.
The twins really enjoyed it (especially the fire twirler), as did Grandma. We're doing the Hoop Dee Doo this year, so we'll see if we like it as much. We would not hesitate to repeat the luau. Also, perhaps it's because I live in New York City, but $50 for dinner and a show struck me as a real bargain.
We've done Paradise Cove Luau on Oahu and Old Lahiana Luau on Maui and this compared favorably to both -- for considerably less money!