There are some good acts that come through those High Noon doors! From Delta Rae to Saints of Valory to my most recent experience with a sold out MisterWives! Most of the bands I've seen are up and comers that will likely come back in a year or two and fill the Majestic and sometimes even the Barrymore. But the savvy music fan will see them first at the High Noon!
There are two different viewing experiences (well, three if you count obstructions), you can stay on the main floor, have access to two bars and even the stage (if you are there early enough for a packed show). Or you can go upstairs and snag a table along the railing. I like the balcony view personally... mostly because I'm super tall and don't have to worry about being in the way of someone's line of sight (yeah, I'm nice like that). Sound is the same all around.
They have two pool tables too, on a regular night (no music) or a smaller show, they may be available - otherwise they are covered up and can become a coat check in the winter.
My two gripes? They have a giant pillar right in the middle of the room - I am sure that it's their for building stability and architectural purposes, but it is a sight line obstruction. Not a big deal though. Also, parking. Parking is a challenge for most venues in Madison, but there's really no nearby parking structure to help and their parking lot fills up fast as they are in a compound with two other booming businesses. I have gotten a parking ticket over there for not realizing I was in a limited spot on a Saturday night (read every sign!).