I cannot comment about the restaurant, but the nightclub is happenin! It's small...very small, and got packed quickly after 11 PM. But being small meant it was slightly easier to find the people you were supposed to be with.
We had an open bar from 11-12 and the girls all had wristbands to get the free drinks (thanks to our promoter who got us on the guestlist and also got in our girls AND guys free).
As for the dancing, the floor got packed...like REALLY packed. But the music was great and we had a lot of fun for an hour or two before hopping over to Tao. :)