I go to the ribfest at least once every year for maybe 15 years. We buy a few different slabs and share. While the quality of ribs will vary wildly (yes, Famous Daves is still there), you can get some decent barbecue. Best to go early, unless you are specifically going for the music, in which case prepare for a crowd.
On the other hand, beyond music, food and a small midway, there is not much to do once you are there. But if you do the ribs and then go into downtown N'ville, park the car and take a walk along the riverwalk (which now extends at least a couple of miles in either direction from downtown N'ville), it can be a very pleasant outing.
If you want other N'ville activities while out here, just ask.
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Feeling (south) loopy