For $35 adult and $10 child (3-9) per day you can get a Counter Service meal, a Snack option and a Table Service Meal which includes tax and gratiuity (15 to 18%). You can leave more if you want too.
From the site
1 table-service meal including appetizer, entree, dessert, and nonalcoholic beverage and gratuity charge
1 counter-service meal including entree, dessert and nonalcoholic beverage at select counter-service locations
1 snack, such as a frozen ice cream bar, box of popcorn, 20 oz bottle of Coke, Diet Coke, Sprite, Dasani water or a medium fountain soft drink at select snack cart locations
As an added benefit, you may exchange 2 table-service meals for either 1 Signature Dining Experience at one of our finest restaurants, such as the acclaimed California Grill or for 1 Disney Dinner Show, such as Hoop-Dee-Doo Musical Revue.
Children age 3-9 must order from the Children's Menu if available.
All you have to do is book a room and purchase at least a one day ticket. You can add the MYW dining plan to this room. It will be good for as many nights as you have. Example you book a 5 night stay and it will be you, your spouse, and 1 child. You each will receive 5 Counter Service meals, 5 table service meals and 5 snack credits.. I don't know how anyone could eat at WDW for this little bit $35.00 per day at this type of meals.
Here is the Disney address for more info
http://disneyworld.disney.go.com/wdw/tickets/packageDetail?id=PackageDetailMYWDiningPkg05Page
Also rumor has it that the MYWDining will be free for period of late August until 1st of October. They already offered this once and the time period expired for reservations. They are supposed to be offering it again starting tomorrow. Check out this site tomorrow for more info.