The difference in standing/waiting with the package seats is this: The stand-by crowd starts lining up 2 hours before the show starts and gets packed in. Then the gates open up approximately 90 minutes before the show and the crowd starts into the theater.
You arrive with your reserved pass 30 minutes later...which is now about 1 hour before the show. The vast majority of that huge crowd that was waiting has now filtered into the theater so at 60 minutes before showtime you will most likely not be waiting in line shoulder to shoulder -- you will be walking steadily through what was the line area, handing over your pass at the top, and be directed to the reserved seating area. Then the 45-60 minutes you're waiting for the show you will actually be relaxing in your seat, not standing in a crowded line with a kazillion people. And yes, if you spot seats you'd rather have you can go sit in them instead of the reserved seating. However, on a very busy night you may find that at 45-60 minutes before the show the only empty seats are in the reserved section. They will already be filling the Standing Room Only section at the top of the arena. At 30 minutes before the show, they remove the ropes from the reserved seats and allow some of the Standing Room Only to fill in any empty seats in the area which is why you can't wait until 30 minutes before show time to claim your reserved seats...there won't be any left at 30 minutes. Hope that helps.