Since WDW restaurants ask for an 18% tip and your kids are "disney" adults, you'll likely be looking at a $40-50 tip for each table service meal.
This was us. We had the
DDp and paid OOP every day for breakfast, used our CS credit for lunch then used our TS credit for dinner every night. The cost of almost every meal we had (5 Disney adults) was right around $200 give or take 2 or 3 dollars. That was a $40 tip EVERY NIGHT we were there for 9 nights. You have to keep that in mind when adding up what the plan actually ends up costing you.
Now you will have to pay that tip whether or not you have the DDP but if you didn't have the DDP you could eat more CS and save paying tips all together.
We would never pay out of pocket for the dining plan. We can always eat cheaper paying OOP because we don't normally eat desserts or snacks.
The 2 times we have had the dining plan (QSDP once and DDP once) we got the dining free and just paid to upgrade from QSDP to DDP at $20 per person per day. So the only cost to us for the dining plan was $100 a day plus tips. So we came out ahead financially. The food for the day including dining plan upgrade, breakfast OOP and tip added up to about $190 a day for food. And that is with
FREE DINING.
Most buffets do not cost anywhere near $60. They average about $18 breakfast and $35 dinner. Even the all you can eat Crab legs buffet at Cape May is only $35. CRT cost a lot but it will also cost you TWO dining credits not one.
We are 3 meal a day kind of family so the only plan that would actually cover all 3 meals a day for us would be the deluxe dining plan. And there is no way I would pay $100 a day for food per person. I can eat 3 table service meals a day on my own for around $60-$65 plus tip. But we would not eat 3 TS meals a day. We would eat 2 CS and 1 TS so we would automatically lose a huge amount of value from the DlxDp. If you are staying in a mod and getting Free DDp and pay to upgrade from DDP to DlxDp it is only $45 a day to upgrade...THEN it is worth the money to have the deluxe dining plan because you only actually paid $45 per person per day for 3 TS meals. If I did that I would eat 1 CS breakfast and TS lunch and dinner. We aren't interested in any of the signatures.
SO my long answer is NO the dining plan is not worth the money.
If you have kids under the age of 10 and eat a lot of character breakfasts it can work in your favor.
You can even eat cheaper having 3 CS meals a day than what the QSDP gives you for 2 meals a day. The plan is $37 a day for QSDP and I can eat 3 CS meals a day easily for under $30. closer to $25 actually. So even the QSDP is not a good value for us unless it is free.
But it appears Disney has decided to severely cut back or completely eliminate free dining.