Melbourne Cup: who's been?

[westoftown]

So i'll be in Melbourne for a family wedding the starting weekend of the Melbourne Cup carnival, and i'm keen to hang around until Tuesday and see the "race that stops the nation" in person.

Website says entry for general admission is $74.

Who's been? Totally worth it for the experience? Or just some overpriced commercialization? Is there anything else to do other than hang around and drink champagne between races?

Keen to hear other peoples experiences on this event . . .