Went in Sept of 2003. Myself, DW, DD6, DD4, and DD2. We thought the food was very good. Much better than Chef Mickey's, where we have been 3 or 4 times. With kids that young, being served is much better than a buffet. Plus, IMHO, quality at a buffet is hit or miss.
Lastly, w/ 3 daughters, they were in awe of the princesses (even though we had the last seating and Cinderella looked as if she had had a rough night before; she couldn't even muster a smile for the picture).
We're going back in late April and so far haven't been successful booking the Princess Breakfast. We have lunch set up there but the menu looks pretty unappealing, so as we get closer we'll see if anyone has cancelled a breakfast PS.