Yes I was one of those who waited 2 hours, yes I got there on a 11:45am and didn't eat until 2pm, yes this was the Sunday of Labor Day weekend with about 14 people in front of us when we got in line (total of 16 active seats).
It was well worth the wait if you come in a group and some of you can break off to gamble and basically take turns waiting. They do NOT have a reservation system NOR do they have anyone to jot your name down and call you back for your seat, you HAVE to have someone wait there.
Onto the food, they are HUGE portions. Seriously unless you eat 1.5x the average person consistently, you should not get apps. Those bowls they give you (I got Alaskan Clam Chowder) are FULL of seafood, almost a pounds worth. Then the soup is another .5 pounds, or at least it feels that way. So much flavor and people love the chowder, and pan roasts. The roasts don't come with enough rice but I dont think they charge you to get more. Either way all of it is a ton of flavor, lots of different types of soups and all loaded with seafood. The chowder I had I would LIKE to eat as 1.5 meals and I see a lot of people taking a to-go container for the rest but hey I'm in Vegas for vacation, dinner must be had elsewhere. I would recommend this!
Note I have not had the other one at Harrahs, so I can't speak to the quality of it but I would assume the line would be MUCH shorter.