I've attended rib fest at Centennial Park for several years around Canada Day. The park is spacious and is a great location to hosts the annual event.
Outside the gates surrounding the event, there are tons of green space to park your blankets and have a picnic, which is particularly great for families.
The downfall with the park is that there are several parking lots. Ribfest can do a better job at specifying with signs which parking lots are closest to the event. During my 1st year attending the festival, my husband and I walked over 15 minutes from the parking lot to the ribfest.
As for the festival, it's amazing with tons of vendors serving deep fried onions, beer, corn... and ribs! The festival had lots of seating. One improvement would be to provide umbrellas or cover for the seating area in case it rains or to block the sun rays on super hot days. There was little shelter which can be tough for the kids.
Aside from rib fest, the park hosts tons of sports tournaments, one or more soccer fields, baseball diamond(s) and go-karts.
Great Park overall.