I saw the show in 2004. I had seen the previous shows (both the "adult" luau and Mickey's luau), and I must say that I was pretty disappointed by the latest incarnation. The storyline is trite, the narrator made me want to chuck my chicken bones at her, and the volcano dessert was kind of icky.
That being said, the dancing portion of the show once the meal is done is absolutely fantastic, and as good as the luau I attended in Hawaii. But it does not make up for the aggravation of the "storyline" and the mediocrity of the food, IMHO. I won't be back until I hear that things have changed on EITHER front...