Hi Alison,
I've asked myself this same question on numerous occasions. I don't know if I can give you a definitive answer, but maybe I can help make your decision a little easier. My Disney Girl's Perfectly Princess Tea Party is a wonderful experience. It's unique, because there are a limited number of guests, so the experience is more individualized than your average character meal. A huge part of the cost is the doll that your child will receive. They're similar in quality to American Girl dolls - which, you probably know, are rather expensive. Your child will have a great time and get to meet Princess Aurora. It's truly special.
But...
It's pricey. I don't know if I would pay for 3 people to go. I think I would make it a mother/daughter outing. That will cut down on the cost. If your little girl isn't particularly into princesses, maybe there are better options at this age. She'll get her princess fix at Akershus and Cinderella's Royal Table. If you want to treat her to something extra special, maybe you could consider making an appointment at
Bibbidi Bobbidi Boutique. There is also and
Afternoon Tea each day at Grand Floridian. It's considerably less money, and you'll still get the experience of dressing up for tea. It's quite lovely and a great way to introduce your child to proper etiquette.
Hope this helps. Have a magical vacation!