You're already at a disadvantage by going on a weekend, because the locals (sorry Kathy, I don't like saying "townies") will be going then. If the weather cools off, the crowd levels increase even more.
I definitely think going as soon as World Showcase opens at 11am is a good thing. You'll start noticing bigger crowds an hour or so later. If you had the option of visiting on a weekday, you'd notice the lines for the food kiosks are much shorter.
I listened to the podcast, too, I have my own opinions of the Festival from the viewpoint of someone who just goes to the World Showcase kiosks, but also as someone who has attended "deminars" in the Festival Center, and paid for the special dining events with food and wine pairing meals.
Party for the Senses has gotten more expensive over the past few years, and it's getting to the threshold of what I'd pay. I would not pay for the Wine View Lounge seats, because I'm fine just grazing from table to table. The year that Kevin and John went, it was the craziest year for the event. You were getting the regular crowd of returning guests from prior years, but you were also getting a TON of people with "comped" passes from Year of the Million Dreams clogging the event.
That was the year that you heard about people nearly coming to blows with fistfights over the low tables with chairs. In past years, this was NEVER a problem. That year, it was majorly hostile. Disney has since reduced the number of tickets for the event to prevent that. I haven't been back since then, but the friends I've gone with in the past have, and they assured me that it was back to "normal" levels.
There was a comment made that the most expensive events wouldn't sell out. That's not true. Victoria and Albert's does an event for over $400 that I just wouldn't pay for. But I know others who would pay for it. And it sells out almost immediately. Many of the special dinners (aka Culinary Adventures in Signature Dining) will sell out the day the events can be booked. Unfortunately, that first day was August 16th, which was Tuesday of this week.
Calling on that day was similar to the phone frenzy that occurs when people are calling for their 180 day mark for ADRs. That should give you some idea how frenzied the "foodies" can get when we call at 7am.

The downside is that Disney still has call center cast members who have NO IDEA where to find the festival events to book in their system. If you call and get someone competent, who is aware of the festival events, that's half the battle. Some of my friends have discovered that "that's all booked up" can also mean "I don't see it in my system because I'm looking in the wrong spot". It never hurts to call back, and it can help if you specify that you're calling for the food and wine festival special events.
The cooking and wine tasting "deminars" in the Festival Center used to be free of charge for years. Only a couple years ago, Disney started charging for them. You can purchase tickets in advance, or you can take your chances and get "same day" purchases if you go in early.
The only caveat I have when booking festival dining events is that they are non-refundable.
I'm sure I can probably think of other things, and if I missed anything important, I bet SamSam will chime in if she sees this thread.
