We just did this a couple days ago. Two adults, no kids.
It didn't have a good start... at the restaurant the entire thing was annoying. First, our reservation was at 1 and they didn't let us check in even five minutes early. So, we stood under the sad umbrella trying to stay cool. Then the check in process was excruciatingly slow - one person checked us in outside by name only, then we waiting in another line inside to pay and get the lanyards and fastpasses and instructions. It was a long talkthrough...lots of instructions and back and forth.
We overhead two groups ahead of us asking for different food options - you can no longer get the actual fried chicken, but they will give you a fried chicken breast apparently. I went with the meatloaf and my friend asked for the kids meal instead. The person was asking very specific questions about why you wouldn't eat the meatloaf (allergies, dietary restriction, or just preference?). If you say you don't eat red meat she will remind you the salad comes with bacon... UGH. It was just awkward as heck.
This whole time quick service diners are streaming past you to get their food....
Once you get in there, you go to a special spot and get your food. The team there was not trained well, so that took a while. We went through checkout, and then there was no designated seating inside the restaurant either... so we had to stand around and wait for people to leave (we lucked out, someone was cleaning up so we didn't wait long, but the people behind us did....). It was very hot so no one wanted to be outside.
The food was.... MEH. I was hungry and it was fine, but most of our conversation was about why they don't just let you eat the regular food and use maybe a special appetizer and/or dessert to "make the package special". It was really annoying to see people sitting down with delicious fried chicken and carrot cake when I was eating strange spongy meatloaf. They tried to make it feel more upscale but it just didn't work. The salad was the best part.
So, at the other end of things... the parade seating. We decided NOT to get there before 8 since we heard there are lines anyway... getting a curb spot was not critical. We got popcorn and mickey bars and headed to the line. It was already really long... no idea how long people were waiting but clearly some had been there for a while. By the time we got tot he front, the curb was fully taken and so we took a spot near the rails facing the train station (at least we had a backrest).
I know some would prefer to face main street, but I actually liked our spot. We could see it coming down main street, and then around the loop, and then it came right by us. We got to enjoy a very long view... and very close.
Another annoyance... at around 8:15 or so, they took the ropes down... so pretty much anyone could walk up and sit there??? Since everyone was wearing lanyards most people walked by, but we did have a family come fill in and fill a spot. On the one hand, good for them, it was open seating. But that felt wrong also... we paid a LOT of money for that place, and to know it could have been packed in in was pretty annoying too.
So - we expected mediocre food and great parade viewing. That's what we got. When we walked through to the seating, the crowds were already very thick.... so we did save the time for a couple more rides and snacks for sure, and got a place to sit for the hour long wait. We would have been standing anywhere else, with a view behind other people standing, much less than ideal.
We did the World of Color dessert party and one of the Fantasmic packages, and both were MUCH better than this... but, the parade was AMAZING and we did get great seating. But I still do not think I would recommend this... Disney needs to figure this one out.
