Polypropylene microfiber tablecloths are very good. They feel much like linen, and water-based spills just roll off them. Within reason.
However, that only counts for just so much when a six-year-old knocks over her lidless water bottle and dumps something in the vicinity of a quart of water in a rolling wave across the table. There was enough standing water on the table that after mopping it up with paper shop towels failed, we vacuumed it up with the carpet steam-vac.
Yes, my pants are wet. And the magazine I was reading is soaked. I didn't even get to finish my supper.