But is it insane to spend $150 or $250 per person on a fancy dinner? Probably depends on your means (and tax deductibility) I suppose.
Tax deductibility of dinner... maybe in your business it is fully tax deductible, most people are not in the business of reviewing food or food establishments, so it falls under meals & entertainment which are only partially deductible.
Now $150-$250 on a fancy dinner, isn't $50-$100 on a glass of wine.