You should go, Kevin. I went to Palmerfest, the previous incarnation which was more or less the same thing, in 2007. I was a complete noob, and my objective for the weekend was modest: learn to roll the kayak I had borrowed (Perception Pirouette Super Sport--some kind of elaborate torture machine). I learnt a LOT more, in fact the river reading clinic was very useful. It was cold that weekend, and they had a huge fire going almost 24 hrs a day, very nice. Four clinics, Saturday dinner, movies, camping, party tent... All for 75$!!!
The current price of 120$ is still a very good deal for what you get.
Typically, the NEXT weekend our club has its first official event across the river at Jessup's campground, many arrive on Friday afternoon, play in the adjacent rapids Saturday, and run the Lower Madawaska Sunday.