Definitely, something to put on your bucket list, and I highly recommend Rainbow Ryders!
We scheduled a sunrise flight and it was a great experience! We arrived at the office @ 5:30 am and after some paperwork and prep, we were shuttled over the take-off spot. There were about 8 balloons in the area and it was a cool sight to see so many being prepared and blown up.
You can hop in and volunteer to help setup which was pretty neat, or just stand back and be amazed. You get safety briefings and photo opportunities prior to lift-off. It was neat to see every balloon going up one by one and just seeing it eased my anxiety about the whole balloon in the air several thousand feet up.
Once in the air, it's very mellow and quiet. We had good weather and the balloon was drifting around 2mph max. We were in the hour for over a good hour so you have plenty of time for recording/photos and just time to take in the view. Our guide Scott was awesome and super knowledgeable.
Coming down was probably the most fun part, and landing was a bit of a bumpy ride but everyone enjoyed the crash landing. Afterwards they set up a nice breakfast of meat, cheese, fruit, eggs, and champagne.
The whole experience took about 3-4 hours and it was one that I would suggest to anyone visiting Phoenix!