Went here after stumbling home from the Tempe Beer Festival a while back - I live around the corner.
I do enjoy some char on my dogs, but I'm not as fond of the smokiness of Ted's. If you like this sort of thing, you'll love these. I'd tried Ted's once before and again, even in my inebriated state, I was thrown off a bit by it. Being from Chicago, Lobby's wins for me on the dog front. For fries, though, I'd give it to Ted's. Get them with the cheese and die happy.
I also agree with others here that there is a certain charm about the place and having staff take your order through long distance shouting as you wait in line and aren't quite certain whose turn it is.
If I was looking for a meal of cheese fries I'd come here in a heart beat. For hot dogs though I'll probably be waiting till the next beer fest.