Best place for groceries and other sundries? Yes. Best place for fresh produce or bread or meats or cheeses? No. Thankfully it's located close to some amazing stores where you can find those other things, but for everything else it's impossible to beat.
I refer to it as the Portuguese Wrestling Pit, which should give you an indication of its ambiance. I've been shopping here for 16 years and I wouldn't give it up for anything.