Three words: NOT WORTH IT.
We went here with family friends after a recital at ASU (though just after the workday for us) to celebrate. Finding a nice restaurant for a large group to eat at in Tempe that isn't filled with college students (who are inebriated) is difficult. There are some, but cost always comes into play and so we ended up at Monti's.
The food was ... ok. The bread was ok, my salad was ok, my meal was ok. The service was terrible. The waitress was incompetent. I expected at an "institution" such as Monti's that I wouldn't have a waitress so incapable of taking simple instructions. Or to know the very limited drinks list. I mean, I ordered one of the only decent glasses of wine on their menu and she didn't know what I was saying. It was ridiculous.
Clearly I expected better out of a restaurant with such a reputation. I will not be returning as there are far better restaurants in the valley and Tempe to dine at (and steakhouses).