First of all -- TeamTinkerbell -- I hope someone who has done both will help you decide btw the two. We've never done Fantasmic so I can't comment on that.
Now, for the types of beer -- I have the menu in front of me: Draft Bud Light is the only beer included. You can purchase Corona, Sam Adams, Heineken for $5.25 or Miller Lite for $4.25. As for wine, there is Chardonnay, Rose (what I had), Merlot, and Sangria -- all included. You may also purchase a magarita for $6.50. They also have glow cubes for sale -- our dd did without it there!
Now as for the show's content -- I think it's kind of like being on the set of the seventies show, "Hee Haw". There is lots of singing -- the songs and jokes are just hokey, but you kind of get into it. They play silly jokes on each other and poke fun of one another. The performers were actually very nice quality, IMO. I got the feeling that they could do more than the actual show's content. It's just a cute and corny show. Maybe somewhat like Country Bears Jamboree come to life, but that didn't come to mind while we were there. There is a piano player and a banjo player in addition to the six performers. There is lots of singing, some dancing, and lots of dorky jokes. I'm not unhappy that we went -- it's just a one time thing for me and my family. I'm actually glad we did it. HTH!
Oh, also -- if you want to go in order to see FW -- I think that is a fine idea. After seeing FW, I really would like to stay there sometime! It looks like so much fun!