Takes place in the old Millennium Village. There will be about 300-350 guests admitted to each party. There were 18 chefs who had set up little kitchen areas and each of them were distributing samples of a dish they'd prepared specially for the party. Some of them were Disney chefs and some were special guests from around the country. There are a bread and cheese table and a dessert table. It's kind of like the food booths outside, only prepaid (and the food is better). You can go back to whatever chef you like and have more of their creation, or you can skip around and try everything.
There are also a number of wineries who dispense tastes of their wines, not to mention Sam Adams handing out beer samples (if they're there again this year, make sure you try the limited edition Utopia beer). They also had a cognac table. Water is always available.
Last year the whole shebang cost about $90. Personally I think the price will go up again this year... but I will be going to at least one of them.
You can't book the party until the Food & Wine Festival reservations open for booking. Last year this occurred on July 24. It's possible they'll open earlier this year since the festival starts earlier (October 1). Keep monitoring the internet (these boards are a good place to look) to find out when the reservations will open for booking.