We are not doing the dining plan for our trip in March. We cannot because we are renting points from a DVC member.
I did a lot of research on this before deciding to go with the DVC place/no DP or going with Coronado and DP. The dining plan for us...5 night stay for 4 adults (two sons, 12 and 14)...was high $700s. I went online to access menus and prices, because I have always felt, as many of you apparently do, that it is just too much food. My final impression was that it would definitely be a good deal for our 14 year old son (who will turn 15 a few days after we return from WDW). He would be able to order app, entree, and dessert w/o having to share.

It would also be worth it if we did two or more buffet style restaurants, as those run $25-30 per adult. And when you figure gratuity is included, that makes a difference.
But at non-buffet, we never all order our own app, entree, and dessert. I truly don't think I can eat all that. So for the rest of us, I didn't think it would save us money.
So I finally decided to go with the DVC. With the money I saved on the DVC room as compared to Coronado (over $200) added to the cost of the dining plan, I figure we should at the very least break even, even if we let DS14 order to his heart's content. Plus, we get a room that has two queen beds. With boys our ages, that matters.