Good pizza though it doesn't compare to Pizzeria Bianco, Cibo, Pizzeria Locale or Pomo. The crowd is of the "too beautiful for school" variety you'll find at other Uptown establishments like Windsor, Joyride and Postino.
There's generally very long waits on the weekend. That would be fine if they'd be willing to call you on your cell when your table is ready, but they refuse. Additionally the seating/waiting area on the west side of the building is very limited (even though there's tons of room to add additional benches). So while you wait instead of being able to stroll the lovely and historic Medlock Place neighborhood you have to idle about in a hot parking lot.
Calling customers who are on a 30 minute plus wait would be a very easy thing for Federal to do, and would earn them another star from me.
I do appreciate the building its in, it's great to see an Al Beadle building adaptively reused.