It's worth it as a "one and done" if you really want to do it, or have a child celebrating a special occasion who really wants to do it. Otherwise, your money would be spent far better elsewhere.
We had dinner there for my daughter's 6th birthday. The pace of the meal is a giant hassle (the long wait for the photo with Cinderella after you've checked in, the long wait to be seated after the photo is taken, the long wait for the princesses to arrive and circulate, the long wait for the bill) and the food is good-but-not-great. (The quality of CRT's prix fixe menu is no better than you'd find at Liberty Tree Tavern or Crystal Palace, but unlike those places, CRT is not all-you-care-to-enjoy.) The atmosphere is lovely, but don't expect to have a great view of the MK: even if you're seated close to a window, the period-appropriate "bubbled" glass windowpanes make it impossible to see anything outside very clearly.
I suppose another thing that colors my view is that my family ate there back in the early 90s when it was King Stefan's Banquet Hall (before the dining plan simplified the menu, and before it became a boisterous character meal), and had one of the best dinners I've ever had on Disney property. In comparison to that lovely venue, the CRT of today feels like a low-priced wedding reception hall that's been overtaken by shrieking sorority girls in princess dresses, all in various stages of physical and intellectual development. (That being said, my 6-year-old loved it, which was the point of our being there...) If a princess meal is the real goal, you might also consider Akershus in Epcot, which is a nice alternative that will give you a similar vibe for a smaller price, also with a pre-meal photo (Belle), equal-or-better food (including an all-you-care-to-enjoy cold buffet of starters and salads), a more relaxed atmosphere, and more efficient character rotation.