The price of $1,000 + 26% includes a meal (your choice of two entrees from the Seaside Grill Menu) and then you would have to pay for the additional bar coverage. The $1260 covers 60 people. My fiance and I chose the Seaside Grill because we didn't want to pay more for food that was already included in the price of the hotel. So, this was the cheaper option for us. It is possible that you could pay to rent out the Seaside Grill and still do the "silver" plated dinner but it's going to cost more.
For us, since we're bringing a large party, we will have to pay $20 per person over the 60 count for the meal but it saves us a lot of money.
Dana - I've made sure to get everything in writing. I'm afraid that I'll get there and everything changes. I'm just a little paranoid.