I've only been here a handful of times and it's been for specific events that I'm interested in, such as concerts. But the times I have made the trek to the Guverment are definitely few and far between.
The best experience I had with this place was a Jurassic 5 and Beatnuts show, and that was about 7-8 years ago. They don't really do events like that anymore. Most of the time I catch their listings in the paper or online it's for semi-raves with international wack DJs. This place is definitely on the club tip, so if that's your steez then you may very well love it.
It's been a long time since I've come here but I was in the building a few days ago for a Red Bull event. It was on a Thursday but the out-of-town kids were in full effect -- girls dressed as semi-prostitutes and then goofball men who are trying to mack them. I actually got hit on by four girls that night! The place is like a drug and alcohol brothel.
So maybe I don't like the vibe there, but I don't like clubs in general. As far as the actual building it's actually quite impressive. They have a decent outdoor area with a bar and lots of levels inside, so if you want to see a show you can hopefully grab a nice spot away from the dancefloor. Though I imagine a lot of these areas are for VIP types and bottle service.
As expected, the sound system is pretty massive. In fact when I was there the DJs were destroying my ears because the place was so loud. The bass was making my bones rattle. The kids seemed to love it though as they were groping each other heavily and drunkenly dancing on tables and speakers. The place wasn't rammed like it probably is on weekends so getting a drink wasn't too difficult and beer was only 6 dollars, which is surpisingly cheap for this sort of place. My bartender was lovely and really polite to me -- probably because I was one of the only gentlemen there and would say "please" and actually leave a tip.
Bouncers were assholes. You get frisked when you walk in.
Side note: the movie Half-Baked was filmed here.