We just did the Princess Breakfast at Aerial's Grotto two days ago. It was super fun! As other poster stated there is a 3-tired plate of fruit, pastries, meat/cheese. Not a ton of food but enough. The skillet of eggs, bacon, sausage and breakfast potatoes is VERY good and there was also a waffle with berries and cream that my kids liked. You also get a drink - juice, coffee, hot chocolate, etc - we ordered more than one without a problem. The total bill for 2 adults and 2 kids was $115. This included gratuity and taxes.
My girls had a great time and so did we. The princesses really took a moment to talk with each table - I thought it was really well done. Expensive breakfast, yes, but worth it to not stand in line and wait to see the princesses (at least to me).