Our first 5 trips or so we did deluxe. When we started coming we were booking pkgs (and a couple times had
free dining so pd to upgrade). We were never unhappy, the men in our group especially. Because of that we were able to see so many of the restaurants, which I think is a huge part of the Disney experience. Our kids were pretty young, so we did all the character meals.
We learned after our first trip, to not do 3 TS per day. So after that, majority of time, we'd do 2 sit down (most likely one being signature).
The draw back is the price. I had no idea how expensive it was until the first trip we rented dvc points and purchased everything separately. However, even though the price is high, my opinion is that it's a good value.
I'm thinking, from memory so could be a little off, it's around an average $35/credit if you just divide daily cost by the 3 meals. You know at Disney, $35 per meal is no problem at all. Especially when you're getting a drink, app, entree and dessert.
Another poster mentioned tips, yes...they can get pretty pricey for those expensive meals.
We kind of looked at the snacks like bonuses, we always used a good bit, but would have a good bit left too (prob 10-12).
The hangup for us now, is I know the cost, lol. . We still go and eat mostly TS (usually 2/day), but since we've done all the character meals and a lot of the signatures we are trying different things. Which happen to be cheaper. Kids are sharing meals for the most part. Like in real life we're not each ordering an app...either one for the table or none, not norm doing dessert unless something just looks really good. We also are AP holders so we have TIW which helps a good deal.
Anyway, we've done deluxe and have really enjoyed it. If you don't get the FD (and are paying for upgrade) I would seriously run some #s. You all may want to eat at the same places, but just a little differently and come out better.