DH surprised us with a Wishes cruise last December when we were staying at VWL - it was a cold night, but we bundled up in blankets, brought mugs of cocoa from Roaring Forks and had a wonderful time. We have another one booked for this May - also leaving from VWL, although we're staying at BCV - and I was quoted $140.00. We're doing dinner at Whispering Canyon and the cruise with DS3's best friend (also 3), his older sister (10) and their parents - DS has no clue that his bf is going to WDW that week (neither does his best friend!) and we can't wait to surprise him with a dinner and fireworks cruise with his favorite friend since birth.
It was expensive - especially when it was just DH, DS and me, but well worth it. The music is piped in to the larger boats and we heard it just fine. The view is magnificent, and you also get your own personal viewing of the Electric Lights Parade in the water, as well as a cruise around Seven Seas Lagoon.
We haven't done Illuminations yet, but can wholeheartedly recommend Wishes for the cruise.