I used to love going to Waldameer as a child/teenager. They have lots of rides, games, junky amusement park foods and fun. I just went to Waldameer a few months ago and it's still the same. They have a lot of new rides and games, but it hasn't changed that much. They have a new roller coaster which, unfortunately, I didn't get to ride. They also have slower paced rides for the geriatric set. I highly recommend Thunder River, if you are the adventurous type! Please Waldameer officials, do something different with the Pirate's Cove! Put some new monsters in or something.
As for value, you'll pay almost $20 for a Ride A Rama, which is a wrist band that they give you that lets you ride all day on any ride as many times as you'd like. You can also buy ride tickets but the Rama is the best bet if you expect to ride on more than a few rides.
Nice time for a hot summer day.