I just got back and found it - for the most part - very easy to use. ITA with Lilystars's persective. We ran into so many people using the dining plan who did not make any reservations - they had a really hard time. There was also someone else on the bus that went to Brown Derby and hated it to only find out at the end that it was 2 points each. They were livid - then the wife asked me, did you know that - how do you find out what it what on the plan?

So there were times, even my DH turned to me and thanked me, esp after LeCellier and Ohana's - both which were outstanding but completely filled our entire stay.
This is what I found - for future dining planners.....
Skip breakfast and do a late brunch or an early early lunch like say 11am-12pm. There are no lines at the CS spots, tables available and the food fresh. You can easily buy all adult CS meals IF you do not buy them all together. Most CM's don't even realize but some do - by buying separate say at different stations at Cosmic Rays - will allow your kids an adult CS meal. Also try splitting CS meals, esp at places with free refills and large portions. This may allow you some breakfast CS meals if you want it.
Make all ADR's in advance and make them for no later then 5:20pm. This ensures no waiting to be seated and very prompt service as the dining room isn't filled to capacity yet (they stagger the ressies on the waitstaff so they aren't bombarded) and they aren't behind on turning tables at appropriate reservation times. This will get you out the quickest as well and back in the parks before they close. This is particularly true for character meals or if you have parties larger then 5 people.
Also - if you plan character breakfast TS meals, plan them later so you can work up an appetite and then only do a CS meal for dinner. If you eat too early like 8-9am, you won't even eat that much and then will be hungry again by 1-2pm and then again around 6-7pm. CRT, Crystal Palace, CM, 1900 Park Fare, Ohana's are all places you can go on rides first at MK and then go eat around 10:20am. You will have better character interaction since most people are leaving at that time, not arriving. I would also plan on doing this meal on the MK early morning hours - more time to ride before breakfast!!
For CS and TS meals, get your dessert to go if you don't think you can finish them, esp if you head back to the hotel right away. I had a wonderful cheesecake one afternoon right after the pool.
Lastly - plan to use your snack credits for drinks only. Step away from the vending machines - go to your hotel store the FIRST day and use 4-5 credits and buy water and/or soda and store it in the fridge. Always keep a supply so you aren't tempted to pay for a soda/water when things are closed or you don't feel like walking to the store. If you opt for a Mickey bar here and there, fine, but everyone needs a soda or a water sometime else during the day. We found we paid for many drinks oop only to have 6 snack credits leftover at the end. Plan on buying the snacks you REALLY enjoy like Dole Whips, soft serve, bakery items out of pocket - if you think of it as true snack credit you will be VERY disappointed as most things do not count.
Our entire family LOVED the dining plan but if we do use it again, we will make some minor adjustments. Overall we tried many new restaurants and enjoyed a different persective to Disney. I agree with the OP about the time management. I would not recommend this plan to someone new to Disney or to commando style families.
HTH