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Some things I consider when looking at a new event...
Cost? if it is more than $50 per day I am usually a no unless average attendance os over 2000 per day.
How many days?
What is the average attendance?
Is there advertising? What kind?
How long has this event been running?
What kind of vendors do they normally have?
Have they had other Direct sales vendors in the past? How did they do? (ask organizers for contact info) Yes I have called other vendors and done this!
Do I have time after the event to devote to followup?
I would say unless you plan to have cash & carry, it's probably not worth it. We go to Country Thunder every year and this year I carried my catalog tote with me at all times and NOT A SINGLE PERSON even commented to me about PC over 4 days!
There was a Gold Canyon booth in the vendor area but I'm not sure how she did. I just think that if your product doesn't "fit" with the purpose of the event, then it just gets ignored.
I don't know about your music festival, but at Country Thunder all the attendees are more concerned about drinking, partying, and hanging out than they are about visiting the vendors or shopping.
All that said, $150 for 2 days isn't an extraordinary investment if you wanted to give it a try to see how it goes.
Go - just know that it is hard to gather sales from any but die-hard PC fans. You'll expose TPC to a terrific new group of customers, don't expect a high volume of sales. Make your booth pleasant, attractive. Less is more. Design height into your display so it's not just tools on a table. (Tiered servers, stack stainless bowls, boxes under table coverings for drama)