Food - what to do?

Another option we’ve discussed is having only the buffet but putting enough food for each table in the centre of the table rather than having a buffet table to queue at.
Has anyone done this before?

If you do the meal at 4-5 then as others have said you normally do evening food at 8-9. This is what we did but for the evening we only catered for 70% of our total evening numbers (we still had a lot left) as the day guests wont want a lot if they had a later 3 course meal. so you would do 40 people at £25 pp ad then 70 at the £9-12pp for the evening. Also factor in drinks if you plan to serve wine on your table, normally is 1/2 a bottler per person and a mix of red/white so you would be looking at around 22 bottles at whatever that cost is and have 2 of each on a table of 8 and then a glass of fizz each for toasting so 8-10 bottles of that. I will say the pricing you have is really reasonable

Yeah it seems the pricing you have is very reasonable.
Normally you would seve your day guests a sit down meal at 4pm as part of the wedding breakfast. People start drinking fairly early at weddings and from experience, I get hungry early when I drink. So I would avoid skipping this unless you tell your guests in advance that they need to have lunch before coming.The buffet is normally served around 8pm. It's generally accepted that you need to feed all your guests. It's a long day for people. If you have a wedding breakfast, your buffet should only cater for 70-80% of guest as your day guests won't eat as much in the evening.Check if your per head cost for the wedding breakfast includes wine or if there is an add on drinks package. My per person cost includes half a bottle of wine per person and a glass of toasting prosecco during the wedding breakfast.
As an alternative to the traditional set up, my friend got married this week. Her ceremony was at 2pm and when she sent the invites she told us all to eat lunch before we came, as the only food was a buffet at 6pm. The buffet included, pizza, wings, bruscetta, salad, dough balls. There was more than enough for everyone and we were full after. The only thing I'd note about this is alot of people were drunker earlier, probably because we didn't eat until past 6pm, when usually at a wedding you would eat at 4pm. Yet we were all drinking from about 3pm and without that 2 hours for dinner, everyone was just drinking instead in that time. It meant quite a few people left by 9pm because we had been drinking since 3pm. Just something to be aware of.