I honestly don't think they're regular breakfast is all that great, especially for what they charge (now that's just for the food, the price is really for both the food and the princesses'), being there many times with dd to see the princesses however the last time I decided to give it a shot and try their yogurt and granola alternative and I have to say I really thought it was great, of course you have to like that kind of stuff. It was huge (way too much), but it had fresh fruit, bananas, peaches and strawberries if you like them, but I was very impressed with it actually. (but still not worth $19.99!)
But there are many other places I can recommend for breakfast that are much better and cheaper, that being said...
We've had lunch there some time ago and liked it a lot. Dinner is probably a bit different but I've heard good things.
I can tell you though if you don't care about the princesses you'll want to skip this breakfast because you'll need to start calling before 7am to TRY to get a PS for breakfast 90 days out from the date you want and then you'll need to give a credit card deposit of $10 per adult and $5 per child (and this is billed to your credit card).You won't have to worry about that for lunch or dinner though.
This is the most popular breakfast in all of WDW, probably even the most sought after PS in ALL of WDW next to V&A's Chef's table.
So, if you want to skip the princesses I would HIGHLY recommend skipping the breakfast

and go for the dinner!