Lots of camaraderie with other families and youth from our ward. Great food and usually a great game. And kids don't feel left out but still have stuff to talk about the next day at school.
We aren't the best at keeping the sabbath day. We watch tv or movies most Sundays and we are probably hypocritical but for some reason have felt it would be a good teaching opportunity to wait until midnight to watch the Super Bowl.
Other meaningful sabbath experiences for our family have come from always trying to find a place to at least take the sacrament even when on vacation or traveling on Sundays. And so far we've struggled but successfully avoided participation in Sunday team sport, which is really hard living outside of Utah especially with kids that are decent athletes. It has been interesting to see as my older teenagers have made their own decisions to not participate in championship games, tournaments, etc on Sundays.
Anyway, I certainly don't condemn anyone from watching the Super Bowl before midnight -- or doing or not doing anything else on Sundays. But for us the midnight party has become one of our favorite events of the year.