Fsufan53, we did the middle option - kind of best of both worlds. The biggest difference was essentially the seating. The cheaper prices put you on the wings and are farther away from the stage.
Regarding the drinks, they are pricey and you can always pay out of pocket. FYI: most "adult" drinks are $8-10 dollars, and non-alcoholic are $4-7. So, where we bought the middle package, we received 2 $16 (adult), and 2 $12 (kids). My wife and I each had two drinks, which killed off both of our cards, and my son had 3 virgin mai tais ($4 ea) and my daughter had a virgin pina colada ($7ea) and a soda ($4ea).
So, was paying a little more worth it? I suppose. The only real benefit that I saw was a) we were closer to the show, and b) we may have saved a buck or two on drinks as we only drank in proportion to the vouchers. But, truth be told, I would probably go with the middle option again even with what I know from experience.
As for NGL's question, we went on Dec 27th. The doors opened at 5pm. When you walk in, they give you a lei and a free, yet very watered down, Mai Tai (both alcohol and virgin options are available). You then take a family picture with both a male and female dancer. The pics are available for purchase at the end of the night. From ~5ish-~7ish, there are different activities going on. There is music, two athletic games (spear throwing & Hawaiian bowling), a lei making station, and picture with a parrot (which turned out to be free). They then pick a few guys out of the crowd for a silly skit on the beach. And you end the pre-show in a setting area where they ceremonially remove the pig from the fire pit and sing a few songs. Was it cheesy, very much so; but, as we were expecting as much, my whole family enjoyed it tremendously. Plus, during the pre-show time, the sun was setting and my wife and I managed to get a few beautiful pics together with the sun setting in the background. As I am usually the guy behind the camera and rarely get my pic taken, this was a premium. Lastly, (and I am not 100% sure if this is accurate) but it appeared that your seating was based on a first-come, first-serve basis. We were one of the first ones in, so we were seated on the stage end of the table. This made it easier for us to get up and go, and, obviously, we were that much closer to the stage.
And three last thoughts: First, the food. It was, overall, pretty good for a massively prepared food. Was it 5 star quality? No, but it was better, albeit slightly, than a typical buffet. Second, don't forget to get your tickets, which are also your drink vouchers, at the ticket window before entering. I saw a couple the did not, and they ended up at the back of the line. And third, there is a sign posted at the ticket office saying no bags, no cameras, no video. When my wife saw this, she made me bring my camera bag back to Aulani. This, however, is not enforced, and, much to my dismay being a camera-guy, pretty much everyone around me had either their cameras, phones, or go pros out the entire time.
