I went to Gold Spike several times with friends and had a good time every time.
First, this place is located downtown Vegas, which means that parking may be a little challenging depending on the night but that there is also a lot of activity around it, particularly with Fremont Street so close.
I never paid a cover to get in, but you will be searched for security reasons. Gold Spike is much more of a "locals" hanging out spot than what you would typically find on the Strip and there is no specific dress code to get in. One of the best thing about this place are all the games you can play for free once inside.
Another good thing about this place is that they offer free drinks on certain nights, but expect to wait quite a long time for them even on nights when you do have to pay. Bar food was pretty good every time I ordered some.
In conclusion, I would say that this is a pretty good place to hang out. Feel free to message me for any additional details that you may need!