Came here the other night for a friend's 21st birthday. I've been here several times and it's a bit hit or miss for me. I think it largely depends on my mood.
PRO's: Awesome for people watching as there are usually a good combination of "interesting" people mixed with beautiful people. Prices aren't outrageous and I've never paid a cover charge here. The atmosphere is fun and upbeat. A good place to amuse young (21-23 year olds) friends/relatives.
CON's: A little on the douchey side at times. I don't know if it's more unique to Scottsdale than the bar itself but be prepared to be scrutinized openly by other patrons. Also, it's one of those bars where the music is loud but there's seemingly a lack of dance space. Most people congregate by the front to dance which is somewhat awkward. Also, be prepared to wait an eternity for a drink.
Overall, this bar is okay if you're literally looking for an "Old Town" experience such as a 21st birthday but not really one of my favs. I don't hate it but I don't love it either.