If your family likes to eat, and if you will eat 1 table service meal a day, the plan is worth it. I know the dollar amount is staggering, but when you break it down and include 1 TS meal a day, it is a good deal. We had 2 kids' meals on our plan, and that was a steal for about $12/day. Make sure that you use all of your TS credits. Sharing the counter service meals is a great idea because portions are big, and there is so much food included in your table meals. We would even take dessert back to the room and have it for breakfast (healthy, huh?--it's vacation!). I was put off by the idea of planning out our meals before we went because I had heard so much about crowds and having to have ADR's. That turned out to be our best move. I just told everyone where we were eating dinner that night, and there was no time wasted trying to figure it out. Do make sure that everyone knows how and when to use the plan, or you will end up trying to buy snacks before you leave to go home.
If you have picky eaters, or if you do not get into food that much, the plan might not be for you. Regardless, food is not given away at WDW.