Has anyone ever been to Music Fest NW in Portland, OR?

I live in California, but I’m really trying to get a group of friends together to take a road trip to MFNW this year.

Has anyone ever been?

How does it work?

From what I gather, if you buy a wristband, you’re guaranteed to see one of the headlining bands (of your choice) and then you have free entry to any of the other venues. Is this right?

Any suggestions for people coming in from out of town?

Any MUST SEE bands this year?
(I’d be going mainly for Iron & Wine and Pig Destroyer.)