I've spent many a Saturday night at Neutral for Brit Pop fun times. At first, I wasn't crazy about the place, but it's started to grow on me. As everyone's said, it is a little bit like a cave, with a tiny stage that you can go dance on if you're drunk or daring enough.
The music is usually great, and the crowd is decent. I've had a couple encounters with exceptional douchebags here, but sometimes there are just douchey people at good places. If you want to go out and you don't want to take a gamble on the music, come here with some friends for 90s classics and decently-priced drinks.
Two notes of warning: They allllways do bag checks so don't try and sneak booze in, and if you've had a couple too many, be careful coming down the stairs.