I kind of dress "middle of the road" meaning capris and a cute top with some cute flat sandals. I saw some gals there in cocktail attire, and some people in VERY casual attire, although I must say, no one was wearing jogging shoes and a ratty Tshirt. Maybe *someone* was, but I did not notice! I would actually like to dress a bit nicer, but we are usually staying at BWV (this trip Dolphin) so we walk to the park, and I just want to be comfy! DH wears dockers type pants and a collared shirt, maybe something button down and not tucked in.
This is the only special event we really do for F&W Fest, as we are there with our 8 year old DD and we feel guilty enough leaving her in a kid's club for close to 4 hours while we do PftS. For the record, she LOVES the kid's clubs and begs to go every WDW trip we take...so we don't feel *too* guilty!

But we will only be there 4 nights this trip, so one "adults only" event is enough.
At the beginning of the night, DH and I are so piggish, you know how you feel when you are hungry...you feel like you will never get full? We act like 2.5 hours is no way enough time to get full. Of course about an hour into it, we are stuffed and feeling kind of sick! We definitely get our moneys' worth, I will say that!
The first year I got tickets, my DH was so annoyed...he could not imagine what I wanted to spend so much money on. After our first PftS he declared it would become an annual event for us. It is really wonderful, I hope you enjoy it as much as we do!