In my experience, as an outsider who's been on the inside of the fandom, it's mostly about nerdy people who like cartoon animals, getting together and doing nerdy things. Though the fetish element exists, it's really overplayed; it wasn't any different than an Anime convention, with an equal amount of comics, crafted goods, strange and impressive costumes (I saw a few full-body puppets that would have made Jim Henson proud), and a mix of people both awkward and awesome. The costumes were probably the weirdest thing for me, but a large part of my feelings probably came from the fetish-type stuff you hear about around the internet. In reality, they were no different than mascot costumes, and few people were wearing them; most just sported colorful cat-ear hairbands, or fox tails linked to the back of their belts, or whatever.
On my off time, I played a bunch of games of 20+ Player Werewolf-themed Mafia in the game room, as well as a number of other card and boardgames. I browsed the artists alley, and though there were marked binders of animal-people smut, there were significantly more illustrations, paintings, and comics that were completely clean (again, not much different than an Anime Con). I attended a panel featuring a fellow who called himself Uncle Kage; apparently a PhD'd organic chemist from Darmouth. He did a panel where he shared stories of traveling the world and getting into hijinks, such as his experiences in Amsterdam where a meeting with an academic peer, and a date with a potential romantic interest of his, got crossed, and hilarity ensued. Great storyteller, and a really fun and nerdy guy.
At one point, a reporter from the local news tried to infiltrate the convention, to make a story out of it. She came in with a hidden camera, and a penguin ballcap as her disguise, and seemed to be trying and failing to make the con-goers out to be crazy deviants. Pretty sure she left disappointed.
On our way home from the Con, my roommate surprised me with a Dashing Steampunk Pine Martin-dude, done in Art Nouveau style, in appreciation for helping him. Basically, several of my favorite things, all in the same place. It's still one of my favorite presents I've gotten from a friend:
SO DASHING! AND VICTORIAN-ERA-COAT-HAVING!