I'll give my take on it when we went a few years ago. You board at the Yacht and Beach club marina. They then motor you out towards Hollywood Studios. Say what? Yes, they take you on a scenic trip and if you have a good captain they will share stories and trivia. This is a time for you to just relax and enjoy some of the snacks that are on board. Finally, you arrive at EPCOT. They pull you out under the bridge between the UK and France. (See the green line in image). The boats are lashed to one another. You then view the fireworks, and then leave in reverse order in which you arrived. After which they motor you back to the dock, you may tip if you want, and say good night.
The viewing is acceptable, I would even say good. There are certainly worse places you can be. You also don't have to claim your spot far in advance, but remember your entire time from check in to drop off is about 90 minutes-2 hours. The same photo shows a circle where the show center (globe) is. Since you are so low, the surrounding buildings and the two tree islands can block some of the views of the countries lit up and some of the lower proximity shots. The view of the globe was acceptable and on par from viewing from this bridge location (which is often a favorite place for many due to location).
I think if you look at the price person, the value is certainly there when you add more folks than just 2. You can really wolf down the chips, cookies, trail mix, water, and sodas then. $300 for 2people is a bit much, especially for a 20 minute show. When we went we also had the christmas holiday finale which really added additional value to the trip, so I would recommend that higher than a normal fireworks night. We also used a DVC discount.
