Pinnacle Peak Patio is far from a top dining spot in Phoenix. It is a very touristy spot that overplays its cowboy/western theme. The place hasn't changed much (if at all) since the first time I was there about 20 years ago. The menu is pretty basic, offering mostly above average chicken, ribs, steaks and burgers. And it may even be a bit over priced.
Having said that; Pinnacle Peak Patio is still a fun spot to grab a good bite to eat. It's definitely one of those places that you need to bring the family to at least once. Enjoy the old west town ambiance, bring the kids, and don't wear a necktie unless you want part of it to be added to their collection.