Me and FH have settled on a sweet, and simple cake and punch reception. We have no issue with this. Although we do have people coming in from out of town. Some are family that are a few hours away, and 2 are friends that are out of state. My parents are very concerned about not having any food (my grandpa is diabetic, although he knows how to deal with it), which I understand but I have never wanted a sit down dinner. IMO as long as I let the guests know in the invitation that it will be a Cake and Punch Reception, I see no real problems.
"Let me give you some advice. Never forget what you are. The rest of the world will not. Wear it like armor, and it can never be used to hurt you." - Tyrion Lannister