I've only been to Venus Nails once for a no polish pedicure, but I had a good experience and would go back. I went here just recently, mid-week during the afternoon (3:00 p.m. or so) and it was pretty quiet (expected): 3 clients including me. I was about a month and a half from my last pedicure and my winter feet needed cleaning up. The technician did a great job! Even though I didn't get polish, the job they do on the feet overall is key for me. Price was also reasonable.
The business is very clean and neatly kept. Yes, there's some fantasy type artwork on the walls, but it's neither here nor there. It probably does have a relaxing effect.
If you're downtown and not sure where to go, I would recommend Venus Nails. I imagine it's quite busy come spring and summer. Also note, it's actually closer to (Bay &) Wellesley St W, than it is to College St.
Update June 2013: I have been back here for another pedicure and still recommend Venus Nails. I go to one in my home neighbourhood that is my main, but Venus is more convenient if I'm trying to get it done during the week. They take great care of you and do a great job.