We had what was called "Deluxe Magic" package for our honeymoon in 2000, which is similar to the MYW Premium package offered now. It included TS Breakfast, Lunch and Dinner every day, and each meal included app., salad, entree, dessert, and n/a beverage. BOY, WERE WE STUFFED!!!! BY day 2 or 3, I was asking my husband to share things with me, but he insisted we get everything since we had already paid for the package. It was great to try foods and places I would normally not chose, but felt free to do so as I was never hungry. I loved having everything paid for before we ever got to Disney. (we spent less than $100 cash the whole week) Alcohol is not included, but we were too full to care! It was awesome!
That being said, I am chosing jsut MYW dining for this years trip, because we have two boys now, and not only would they not eat that much food, I'm sure they won't want to spend that much time away from the parks!
Premium package also includes recreation, and we loved renting the boats!