I have been to Nola twice - the first time as a willing foodie, the second as a prisoner of social graces. The only enjoyable dish here, in my experience, has been the eponymous 'Nola Salad.' It's really a lovely salad - the candied walnuts, arugula and fresh goat cheese are definitely a winning combination.
Unfortunately, everything else suffers from the too much salt, too much grease or too little taste malaise that seems to be the defining characteristic of Nola. Even the jambalaya - their signature dish - was one dimensional and salty.
So.
Long story short:
Is Nola conveniently located in Market Square? Yes, BUT that shouldn't stop you from going to the other excellent restaurants that are in the same area or nearby (Eleven, Sienna). Extra star for the yummy salad.