If you enjoy watching a large group of very fair-skinned Irish-Americans getting 3rd degree sunburn as they stand around the Metra Parking lot drinking cheap beer, listening to bands that range from average to awful, you'll love it.
Seriously, I live in Edison Park, and I enjoy the festival ( although I do emerge with a sunburn and a hangover), but the festival food itself is not exactly exciting. Standard Chicago street fair food--Mexican, Italian, Polish, etc.