We went last year and this is what we did (2 adults)
Photo with Mickey and Minnie in Holiday outfits
Photo with Goofy and Pluto in Holiday outfits
Cookie/Rice Crispy and drinks (hot chocolate and apple juice)
Merchandise, some unique, other stuff wasn't unique to the event
Free ornament when we left
Drawing for I think a gift basket that is mailed to you if you win
The photo isn't free...you are given a ticket where you can find yours among the hundreds taken on a website. You can use your own camera too though.
It was 2 hours, but we were done in about an hour.