DH and I went to the B-H meeting for about 5 years in a row. We live 3 hours away so it wasn't a major trip for us. We stopped going: Warren and Charlie tend to make the same basic points every meeting (they're very good points, but we know them by now). The movie at the beginning is usually pretty good and includes a few celebrities (I remember Susan Lucci, John Clees, Arnold Schwarzenegger and Jamie Lee Curtis). They stopped taking questions from the audience because inevitably you'd get someone's cute little kid who had to recite a poem first, or someone with a political agenda. Now the questions are collected in advance and posed by 3 business journalists, which is a big improvement.
They charge for food and it's awful, sports-arena-type stuff. DH and I started bringing our own and fortunately it's not prohibited. The exhibit hall is great- you can get B-H branded food there such as DQ, See's Candies, etc. Shareholders get decent discounts on many B-H company products. I have a pair of Justin Boots that I bought at a discount of something like $100. I'd like to go back and get another pair but DH has pointed out (quite reasonably) that it's cheaper to pay full price closer to home than do an overnight stay in Omaha.
Depending on the company, you may have to reserve your hotel very early. My guess is that pickings in Omaha for the B-H weekend (early May) are probably at extreme ends of the price scale right now. DH and I always laughed at how many people at the hotels we stayed (typically Hampton Inn or similar) were wearing the tags you need to get into the B-H meeting and enjoying the hotel breakfast included in the room rate.