I last ate at the Vineyard when it was sponsored by the Mondavi family of wineries, the food was really amazing, rather small portions, but amazing. But you had a different glass of wine with each plate. When you consider that a glass of wine at any restaurant can run you anywhere from $5-$25 a glass the price is really not that bad.
Have not eaten there since for no one I go with wants to pay the price. They would rather eat downstairs at the trattoria, their loss in my opinion.
And yes ask for a table along the edge to view the parade and see Paradise Pier with all the lights on, it is quite a feast for the eyes.
Over the last year, I decreed the Vineyard Room my absolute favorite restaurant... the food was delicious, the wine great, etc. 2 of my closest friends and I would often meet there for a long de-stressing meal. However, the last 2 times I have eaten there (November and December 2006), I was extremely disappointed in the quality of food. I am not sure what is going on, but I think there are some kitchen issues currently happening. However, if you go - the best wait people are Patty and Mark!
Also - if your reservations are at 8:20 you should be in prime position for the EP. The Vineyard Room is a GREAT viewiing area for it! =o)