There's obviously a wide range of opinions on this one. Here's mine.
Having just eaten there last week (for the first time in 2 years), I think the food quality is pretty mediocre. I did not have a problem with character visits -- within an hour, "everyone" came by. Service was fine. The noise level is generally high, but typical of most Disney restaurants. The location "in the lobby" of the Contemporary is nice -- especially now that renovations are complete.
That said, unless you have kids under 9 -- or have some particular interest in "meeting" the characters while you dine -- you should not eat at this buffet. The food quality at Boma's is SEVERAL notches higher, so if you want a buffet, that's where to go. Not only is the Boma food much more interesting (along with plenty of familiar food for the kids), even the basics -- like the carved beef -- are executed SO MUCH BETTER at Boma. It's like night and day.
Having eaten at other mediocre character buffets (like the one in the Grand Floridian), it seems pretty obvious to me that Disney feels like that can sacrifice food quality a bit when the characters are around. I guess the theory is you go to a character buffet mostly for the characters, and not for the outstanding cuisine.
I think most people -- except character "fanatics" and parents of young children -- would trade better food for characters at dinner. There are plenty of places to get your photo taken with the characters in the Parks -- heck, in 5 days, my kids got personal photos with at least 20 characters (including Mickey) and we never waited more than 2 minutes (we don't wait on long lines for character visits).
If you want "entertainment" with your meal at Disney, the best place I've found is Ohanas. The food is very good there, you are properly served by waiters (but it is all-you-care-to-eat), and they have very pleasant Hawaiian-themed entertainment (geared toward kids) during the meal. It is a particularly good value under the
DDP because you get plenty of appetizers, full entree (lots of grilled meats and sides) and a delicious desert included in your meal credit. I think 9 out of 10 people -- including kids -- would prefer dinner there to dinner at Chef Mickey's, and it's just as convenient on the Magic Kingdom monorail.