Here are some thoughts on my Showcase experience. First of all, I dance at an Arthur Murray, and I'm not ashamed.
I've noticed (since I started nearly 8 years ago) the tendency for a "Showcase" to be not just a variety show, but to also include heats like a mini-comp, with a judge to give feedback. As long as I get to dance, it's ok with me, though I want to do my solo and I love watching other people perform. All the Showcases I've ever been in took place at the studio. Some had a catered lunch, some were kind of potluck. One studio I danced at has a "Show" four times a year (focusing more on solos but with some heats thrown in).
To add to the confusion, AM has regional events they call Showcases, which are regional comps, but some solos are presented.
Anyway, I like an in-studio event, because it's low-key. I've never yet had to buy fishnets, I wear suntan ballet tights. The cost was a tad steep because of the judge--$120 for the entrance fee, $40 per heat/solo (with 10% off if you did twenty or more). Lunch was potluck, and spectators could come for free. (I've been at studio showcases where spectators had to pay, so this was nice.) I did 12 dances including my one solo.
Some people wore sparkly ballgowns; I wore a black "tango dress" that was custom made for me by my daughter (brag, brag

). I forgot smooth shoes, and I didn't know they'd separate smooth and rhythm (they don't always), so I wore low-heeled open-toe shoes for most of the day. My solo was Argentine Vals. I love Argentine Tango, and I'm trying to focus on some of the more "unusual" dances I love, so I'm planning to graduate from Bronze 2 in Tango, Vals and Milonga next time they do level promotions. (The promotions are part of the AM system, they have graduations and Medal Ball twice a year.)
I was a bit surprised that there were only 7 or 8 solos, as opposed to over 50 heats. Maybe some students are more comfortable dancing in a group than performing? For me, I love performing; next showcase I'm going to dust off an older routine or two.
I haven't gotten the feedback from the judge yet, so we'll see. In any case, everyone seemed to have a really good day.
A last word about AM: I started out in a Fred Astaire and moved to AM when my teacher moved. I've also danced independently (another teacher is independent). I understand the AM system and I've gained confidence to take from it just what I want and make it work for me. Also the studio I'm currently at is run by really good people. I enjoy having a community of people I know and encouraging each other. I like going to different places, but when nobody knows you it's a little hard.