We did Dine with Shamu in January. DD (almost 6) has wanted to be a whale trainer since she was like 2, so it was a must for us. Seating is right alongside one of the side pools in Shamu Stadium. You will get a lot of information from the trainers about the whales, their activities and how they go about training them. The whales pretty much do free swimming in the pool area near the dining and do a few jumps, but you do get to see them VERY close. At one point the trainers feed them some fish and have them do litle tricks (spinning, noises) so you are very close to them. Don't expect to get splashed like you do in the main Shamu show.
The food was not bad, but it was not exquisite, either. There was a bunch to choose from, and beer & wine was included (an awesome surpirse!).
All in all, we loved it. We got some great pics, and learned a lot. You'll enjoy it!