You're certainly paying for the experience at Margarittaville. The drinks are decent (and more reasonably priced than the food) and the food is good (but much to expensive for what you get). The atmosphere is great though, especially if you like classic rock. Even when the restaraunt is super busy, I find it pretty relaxing.
I've always had good service, the kind you can expect from a more expensive restaraunt. I'm not sure if I've just been lucky or not considering some of the other reviews, but I've never had the bad service experiences other yelpers talk about. Be sure to save up if you plan to go because realistically you're looking at $20-$30 per person, more if you plan on getting some drinks. Still, if you like the ambiance, you'll probably have a good time.