Just did the package. Your seat will be about 4 sections right of center (looking at the stage). Pretty good seats but not the best in the theater. If you want the best seats get in line about 1.5 hours before the show and wait. With the package you have to be at the designated entrance (behind the stroller rental near the entrance) no later than 8:30 and you go straight to your seat.
The restaurants are Brown Derby, Mama Melrose, and Hollywood and Vine. We ate at BD, it was great. Had a table for 9 PSed for 6:30, had plenty of time.
You can only make reservations for the package after you check in your hotel at guest services.
Just beware, everyone must order an entree, I think the minimum was $20 per adult (kids can order off the kid menu). One in our party didn't want an entree but since we had 9 the waiter let it slide.
All things considered, I'd do it again. The seat was good enough.