When it comes to concert venues in Toronto in the 400-500 person capacity range, NOTHING comes remotely close to testing the Mod Club. Nothing.
The lighting at The Mod Club is unparalleled for venues of this size. It really is unfortunate that concert lighting is usually an afterthought, at best. Lighting really helps create a sort of 'star-power' for new indie artists, and adds a huge element that is missing from most small-mid sized concert venues.
The acoustics are head and shoulders above the competition, and the warm vibes continue to churn out fantastic live shows. Fast-forward to 2:35 in this clip to check the lighting, sound and vibe in effect: http://www.youtube.com/watch?v=KqGYZMS56ag
The hardwood flooring and deep velvet curtains around the stage give the Mod Club a nice warm energy. The shape of the room is as such that a medium turnout (300 people) still looks good, while the spot can pack in up to 550 patrons when the balcony is open.
The only downfalls in my mind are the power-hungry staff (the bouncer's are pretty immature) and the horrendous LCD displays behind the bar which rotate a reel of cheesy brand logos.