We went last year and my boys loved it (they were 9, 6, and 3). Honestly, I think one day is enough. My mom found coupons on the back of Pepsi cans that saved us a lot of money. We had 4 adults and 3 kids. The coupon was buy one adult and get one kid in for free. So, all three kids were free. They also give free passes to active duty military (just the soldier, not the family), so my husband was free. It still cost about $300 to get it, but that was a less than $700. I do think it's kind of pricey, so look for the BOGO coupons.
Food was decent--we ate lunch there.
Gift shop--shop first! Someone suggested that to us and they were right. Shop first because the gift shops get super crowded at the end of the day. They will hold your purchases and you pick them up at the stroller rental counter. Prices were decent at gift shop--most matched Amazon.com prices.
Hotel--they were building a Lego Hotel when we were there last July. It's supposed to open soon (maybe it's already open). I looked at pictures online--it looks dumb (in my opinion). I'm not sure how much it costs. It's RIGHT NEXT TO the entrance to the park.