I've been to the Majestic several times and would consider it an average venue.
The outside design of the building is super cool, gives off a bit of an old school vibe. It's also located right down the road from the Capitol, so it's in the heart of a good bar and restaurant scene. So there's definitely places to see and go to around the venue, before and after the show.
As for the inside... bands sound good in the venue. It's small and intimate, but the setup inside (the location of some of the seating) is a bit awkward. I do however, enjoy the balcony style seating that is up near the bar, off to the left side. It's the perfect spot if you don't want to be in the "pit" area.
Drinks are also very expensive here. Overall, it's not a GREAT venue, but I don't hesitate to go when an artist I like has a show there.