I'm in the UK, but I do solo trips. I was last at WDW in February and I stayed at Riverside for 11 nights. The promotion at that time was the Dining & Merchandise credit and the $200 general gift card. I basically got $1000 spending money! This worked far better for me than a free dining plan would have. The (QS) dining plan is rigid, it's two whole meals and a snack per day. Eating habits don't necessarily fall into that pattern and you could easily spend on food outside that pattern, which I do, especially at Epcot or just needing ice creams or drinks or something throughout the day.
It made my hoiday completely inclusive,and honestly I made full use of the credit and ate what I wanted and "spent" much more on merchandise than I would have done normally.
It only worked for me though because I was solo. The dining plan probably works better for at least two people in the same room as the offer is per person not per room. But as a solo traveller I pay relativelymore for my holiday anyway, the room costs the same regarkdess of how many people are in it.
In a nutshell, I'd prefer the UK packages to continue with the Dining & Merchandise credit rather than free dining! If only we had the choice. UK packages are great but unlike the US offers we don't have a choice and the current offer prevailing at the time of booking is what we get.