We went last Friday (got the Reservation Tuesday night - I was checking constantly the week leading up to it and it appeared as though reservations would open for each day, at least temporarily do you have to be diligent, 1-2 days before without exception, even during the busy holiday week). We are Disney vets but dessert party novices, with this being our first, mostly because we have never been people to stake out show/parade spots well ahead of time but figured this one would be a hit with kids and obviously viewing spots need to be optimal for full enjoyment. So I really did it to eliminate the stress of trying to squeeze into a space, and hoped the food and whatnot would be good enough to justify it.
I have no comparison points to other parties, and I knew going in I wasn't going to "get" $70 in "value" for the food/drinks consumed, but we had a GREAT time. Myself, wife, son (9), daughter (3). We didn't even get a sit down table as while I got on line early while they did TSMM, they opened up the seating before they got there and I felt bad holding a table by myself over other families when I wasnt sure when they'd get there. Of course, the rest of my party arrived literally seconds after I made the decision to forgo "holding" a table, but oh well. We stood in the back by the children's activity table, which got almost NO traffic, and the attendant was happy to let our little ones sit there. A family left a good 30 minutes early to get a viewing spot and gave us their table at the end. Overall, I didn't find this to be much of a deterrant, as we were constantly shuttling around to the bar, food tables, Santa Goofy, getting another look at the nitro-station, etc.
The space in the area vs. the amount of overall people is about as "open" as any spot you can find in all of Disney World, in my opinion (maybe other than the Circle of Life theatre my daughter and I sat in after rope drop while wife/won did Soarin!). I found it to be as much of a "low key" event as you can get at Disney, my kids tried literally 20 different things and got a kick out of that, my wife and I enjoyed the specialty drinks, Santa Goofy was a hit, and we were the last ones to leave the party area and had a perfectly fine, and very comfortably "open" viewing spot towards the back center of the preferred viewing area. My kids got such a kick out of the 3D glasses too - wore them around at night at other parks for the rest of our trip and brought them home for viewing christmas decorations.
Its a lot of money, and not sure I need to do it for every night show, but if its a new one or one where I'm concerned about needing a viewing spot without stressing, I'd do it again. I found it extremely well run and organized for something that I was very afraid was going to be chaotic. One of our best experiences of our trip. Just my two cents, whatever that is worth.