I love that Bike Shop is a locally-owned place that really cares about the local biking community. They have a full calendar of group rides, and they host special events like ladies night where they have vendors in with specials and they go over simple maintenance, etc.
I have gotten excellent advice from them, even when it didn't result in a sale.
The service is reasonably priced and the staff is very knowledgeable, but they do have a tendency to get backed up. I recently had to wait an entire week just to get a wheel trued, a process that probably took them about 20 minutes.
The shop has a decent selection of apparel and accessories, but they are extremely overpriced. I might go there to look at something, but then I would turn around and buy it on amazon or bikenashbar. Same is true with their bikes - all very expensive.