We attended last year - 2014. We camped in the area with power and water, but you can answer the question about power question yourself. If you are accustomed to boondocking it should not be a problem. If you are not, and want to stay more than a couple of days, I recommend reserving in the area with power.
As far as the dusty conditions - yes there was a fair amount of dust because there was a lot of wind last year. But, they did water the roads routinely. We had to keep our windows closed about half the time, but it really wasn't a problem. The roads are partially gravel, but I could see where if there is a lot of rain that could be a problem. Put the mat out! Smell from the pumper trucks? Didn't notice any at all. If I remember right the trucks charge $50 to pump out. We didn't do that - we stayed three days and used an off-site free dump station at a gas station a couple of miles from the venue on our way out.
All in all - these were small problems. The festival is well worth the trouble. Reserve early.