I don't live in Vegas and I've only been to the Double Down twice, but I love it and it feels to me like an authentic punk-rock club like the ones where I spent my teens and twenties. It does seem a bit incongruous to find this in the middle of a tourist area, and it does seem to cater slightly to the hollywoodized image of itself, but overall I find decently priced drinks, good music, and an overall feel that reminds me of The Decade, The Rocket, The Living Room, or anywhere else I wasted away my youth.
At this point even though I've only been twice, I can't imagine going to Vegas without checking out what's playing at The Double Down.