Yes I would recommend the Luau. They have a nice hula show with audience participation. Definately book this in advance because this is the spring break time of year and it sell out quickly.
The "Dine with Shamu" is a 1:30 lunch at this time of year. They do have other seating times at other times of the year but right now there is only one seating a day.
There is also the Shark's Underwater Grill. This is the park's premier eatery. They start to take reservations at 11:00 each day right at the Grill itself. There are about a dozen other restaurants and refreshment places throughout the park to choose from.
There is also a character breakfast that is only offered on the weekends so it too sells out quickly. It's held from 9 - 10 AM at the Seafire Inn (same place as the Luau).