We were there last Wednesday. When you go in, you take a picture with Cinderella first and then wait for your table. The boys do get a sword and the girls a wand. We didn't have the Fairy Godmother - just the 2 mice and Sleeping Beauty. They did stop for pictures but there wasn't a show. During dinner they bring you your pictures with Cinderella which is included in the price.
Our reservation was at 9:00 and felt a bit rushed. You needed to order your drink, appetizer, entree and dessert at the beginning and things just keep coming out 1 after the other and you can leave at any time because everything is pre-paid (including tax/gratuity). The food was ok - nothing special. You're really paying for the experience of being in the castle.
We did breakfast a few years ago and we thought that was a bit nicer as far as the experience/food but the professional picture with Cinderella is a really nice touch!