Better for movies than for live performances. I saw Ben Folds here a few years back and the acoustics just weren't up to snuff. The seats were old and squeaky, the rugs tattered. Overall the whole place looked like it needed some love.
This theater is good for watching movies, and has a lot of old school charm, really the only true old time theater in Madison. Unfortunately, now that the facade of the theater faces a blank, featureless wall that comprises part of the monstrosity that is the Overture Center, the effect of its design is diminished considerably.