I went last year, and waited 5 or 6 hours and sat in the balcony. Also, I walked from the front of the line all the way to the back in my Chiefs hat and was taunted harder than I've ever been taunted in my life. We ordered pizza in line. It was pretty fun.
We had to wait in line to get the tickets, then wait in line again the day of the draft. You get a bracelet the first night, then you wait in line to redeem your seat, which is first-come, first-serve. But if you don't get in line in time for the bracelet, they'll run out. If you don't get in line in time for the actual draft, you'll get a shittier seat.
I liked it, though. Rich Eisen, Mooch, and some other NFL Network guys greeted people in the line and took pictures. And you get a bunch of free shit. So financial situation pending, I'd like to back for our number-one pick this year.