I personally don't find that there is a better view at any area venue than inside the venue at Wolf Trap - the closer the better is a given. The sightlines and sound are better than anywhere else. If you're lucky enough to sit up front, you don't have to look up and hurt your neck all night long either. The stage is at a reasonable height.
Wow, I read somewhere in this thread that the Pit was $10 over the rest of in-house. That's going back a way. The pit has been $75 got most performances over the last several years. There have been one or two other performances where the pit has been $100. They are definitely the exception and not the rule. If you get the opportunity to sit in the pit there, it's definitely some of the best seating you'll ever have.
As far as drinks etc - no, you can't bring anything into the pavilion (water only). But, you can get there as early as you like - pack whatever you like in your cooler, and hang out off to the side. It's very easy to get in and out of. Of course, if you want to consume throughout the show, you'll need to be on the lawn. But, they don't even inspect the contents of your cooler - bottles of hard liquor, wine, beer - whatever you like - bring it.