I've done both and I'll be honest the both passed me by a little bit. But then I've discovered I'm not much into dinner shows.
I thought the Hoop De Doo was REALLY corney, and I just don't do that clapping, feet stomping stuff singalong stuff. If that's your bag, then I'm sure you'll have a good night out, but if it isn't I'd pass on it. The food was just pretty average.
The Luau was a bit better, although I'd been to a couple of these in Hawaii and the one at WDW wasn't as good. The food was pretty good, if a little limited in scope. We had pretty slow service which puts a damper on things when it's time limited and, at that time, I think "speciality drinks" were included in the price. IMHO 2 "free drinks" in 2 hours AIN'T ENOUGH and it wasn't because I was parking em LOL :glass:
If given the choice I'd prefer to spend the money on other things like a character meal, Cirque, Bomas or better quality meals in other restaurants.