My girlfriend and I stopped by Gaucho on a Friday night, and surprisingly it wasn't too busy. There was a bit of a wait however because of a private party being held. Even so, the wait wasn't terrible. The waitstaff was friendly and they seem to be organized.
I ordered the Arrachera (flank steak) and my girlfriend ordered the Bife de Gaucho (ribeye). Both of the steaks were well-cooked and flavorful. While they were not nearly the best steaks I've had, the quality for the price is great.
I'd definitely recommend Gaucho to any meat-lover, but be prepared for a bit of a wait.