Went last year. Yes, they do have all you can eat - we did it, but regretted it. It became more about maximizing our food consumption to "beat them" than about enjoying ourselves. We ate like pigs. And frequently, unless its changed or we were wrong, you cant just get a frozen lemonade from a cart - you have to go in the restaurant and eat a "meal" (we would frequently get a cold dessert at the BBQ place by Shamus in lieu of paying more out of pocket for a frozen beverage. There is also a refillable drink cup that is not included with the all-day dining, which I would definateley recommend (but I drink a lot)
They have a pretty legit parade featuring sesame street, plus an entire middle section dedicated to it, where there is a meet and greet. There is a kiddie coaster, a carousel, and a "Rockin' Wave". There is a giant splash pad of sorts - everyone should wear water shoes and swimsuits. You'll be glad you did. (It was 100+ the day we went, and so we would ride a couple of rides, then head back to the splash pad - we spent more time there than anywhere else.) They've added a couple of more mild rides, and a section about sea turtles. (My younger kids LOVED the riptide rescue and sea spinner - although these had minimal height requirements which they enforce VERY harshly... kids a good quarter inch past the line were being turned away!)
If you guys are planning on going when its busy or planning to ride any big people rides, I'd get the quick queue unlimited. For me, it was worth its weight in gold - but be advised, last year you had to print the piece of paper and carry it around with you as your quick queue pass! So plan to bring a waterproof baggie or something for them.
It was cleaner and more well run than Fiesta Texas, but Fiesta did have way more rides and attractions.
Since its been 8 years, I'll tell you - they have added at least 1 steel coaster, which is out over the lake and awesome. Plus there is a brand new wooden coaster opening this year (I dont think quick queue will work on it yet). Its still not a thrill ride park, but they are growing their collection as they deemphasize the whale shows.
Its a locals park - which you can use to your advantage. If you arrive and are inside at park opening, you will have your run of the place for the first chunk of the day while all the San Antonians are sleeping in.
I gave you way more than you asked for. I'm sorry. But when i saw a San Antonio thread, I just got super excited, since its kind of the red headed stepchild of the Sea World family, and yet its the one I have been to most - due to geography.