I prefer Blue Water for parties to just eating there for dinner. I think they do a great job of setting up a small menu with 2-3 choices for guests (3 course meal). The only downside of this private party favoritism of mine is that I prefer the upstairs room -- it just has a better vibe.
Don't get me wrong -- I have enjoyed meals here on my own (without an entourage of 50), especially brunch. Maybe the portions are just off...or I have trouble deciding on the menu.
The food is good. You might love it, but you might just like it.