I just went last month -- we had the lowest tier package. (I would have gotten highest but my friends didn't want to). There are approximately 1,000 people at each luau.
We were on one of the side "wings" but had a pretty good view anyway. The food was ok, but not spectacular. Kahlua pork, fried chicken, some type of baked fish, rice, salads, some fruit. Three or four different dessert options (none of which I cared for). The drink coupons were for pretty basic stuff--we paid extra $ to upgrade them to Mai Tai's.
The pre-dinner/show events were fun--some arts and crafts, a guy climbing a coconut tree, the hauling in of the nets, bringing up the roasted pig from the underground oven, etc. You are packed in the tables pretty tight and the buffet is not exactly close to where you are seated.
The show was pretty much what you would expect--dances and songs from the various cultures. Very pretty. The setting is lovely. Having not been to one of the other luaus on the island don't know if it's better or worse than the others--I wasn't disappointed but I wasn't overwhelmed either. I also think I would have had a better time if I had been with people who were more "in" to the whole experience.
I did wish the crowd was smaller--it's hard to get an intimate laua experience with 1,000 other people! I also thought their service people were a bit overwhelmed --- we were told we could order drinks from the table but could never find a server!
Again--I would have paid the extra $$ to either be in the front or on the raised platform at the back and get served. It would have been worth it to me.