OK I'm going to go against the grain here and give you my opinion of our experience. We had an ADR @ Mama Melrose (best choice of the restaurants IMO) at around 3:30. We had to wait for our table, the food was mediocre, not horrible but very overpriced. Then we had to meet at the "designated area" like an hour before the show if I'm not mistaken, then we were taken to the seating area which was to the far right of the arena. Then we had to wait another 30-45 minutes for the show. All the waiting for eating, the expense and additional waiting for a seating area that wasn't in the middle (that might've changed..its been a few years) made it not worth our time or money. Sure you have to wait "stand by" for over an hour to get a seat, but if you factor in all the other running around and meals, to us it makes more sense just to do a stand by.
However, if you like the dining options, don't mind the food and/or prices and want a confirmed seat I'd say definitely go for it! I have more time than $ and since I'm waiting one way or the other, think I'll pass on the F! package. Just my .02