I would not bring a small child, but a 10 year old who is interested in discussion might like it. If he's the sort of kid that wouldn't ask the Imagineer questions and would get bored with hearing other people talking for a couple of hours, don't try it. I would not take my nine-year-old nephew, he is the sort of kid who would get restless. The one I did was close to three hours long, so if your grandson will be itching to get back out to the rides it may not be a good idea either.
The lunch is held Monday, Wednesday and Friday at the Hollywood Brown Derby at DHS. I think the price was about $70 for a full four course meal and beverage, gratuities included, and I think the child price, which I don't remember, is only applicable to age 3-9.