My friends and I sometimes go here depending on what they are offering. Often in themed costumes of our own, study up on some songs and it's all really quite fun.
The shows are usually musical parodies and the plays don't have amazing scripts but if you love the original they are spoofing you'll have a good time. The actors are not unionized so they tend to be a little less experienced than the ones you'll see in Stage West (which they will be unable to work at). Eventually these guys may join the union and go into bigger productions so generally they tend to be quite young - fresh out of school and maybe the top of their drama clubs or something. Production value is still pretty high quality.
The food is acceptable but not delicious - there are vegetarian options which is nice. The drinks are steep. Overall it's about what you'd expect for a dinner and a play and if the show that's running is right for you then it's a great evening out.
TIP: after the show, stop in at aussie rules right next door to add a little extra something to the night.