I live on the other side of the country, but will always make it out to IDB because I believe it is the best thing you can do for your dancing for the price (besides practice). Here's why:
For $400 bucks or so, you get amazing insights from some of the best teachers around. One part I really enjoy is the community of people as determined to improve in their dancing as you are. Even with the plane ticket and hotel costs, it is more than worth it. You get so much information, you'll find yourself working on things discussed there for months afterward. I encourage taking notes.
I've looked at other camps, and they are generally geared toward pro-am students, meaning they are expensive and silver is considered "advanced." There is no substitute for IDB.
However, I would say it isn't worth it if you aren't dedicated / financially capable enough to afford regular private lessons. If you can afford private lessons, this camp is certainly worth the lessons you'd forego to pay for it. Yes, the camp is geared toward students, so they try to make it as affordable as possible, but if you're broke you're broke. Also, if you're a newcomer and aren't sure you want to drop money on dance, then don't. Take your time and make sure dance is for you. For all serious dancers, however, this camp is number 1.
Finally, last year, the camp wasn't as good as it had been before. Less big 'name' instructors, and 25% fewer classes were offered (3 per hour, instead of 4). It was still worth it, but the difference was noticeable.
**I have heard guarantees from IDB that this year they will be back up to 4 classes per hour.**
TL;DR
Best 3 things about it (IMO):
Amazing instruction for relatively low cost
Higher level teaching than any other dance camp in the country
Chance to meet hundreds of others who share your passion
Worst 3 things about it (IMO):
They don't post the instructors list until the last second. It's understandable, but still kind of annoying.
The hot tub closes rather early, so if you wanna eat after lessons you better move it

The ballroom social is rather short, while the WCS social dance goes pretty much all night long.
P.S.
If you're going, DEFINITELY stay in the hotel. The price is right, and it would be unimaginable to drive in and out every night.