Excellent with one big caveat which I'll save till the end.
First, why five stars? The foremost reason is the place (ie atmosphere). One of the things I miss about San Francisco (just moved to Phoenix in Summer of 2010) are the small eateries with lots of personality. They are difficult to find in this area. Well, Cafe Monark fits that description perfectly. Very small tucked away nicely in a quiet corner in the Oldtown.
The owner is the greeter, chef, waiter and cashier. The place only has about 20 seats.
The food is excellent and from what I can tell the set menu changes regularly.
Lastly, it's BYOB with a $10 corkage.
So, for the caveat, it can be slow. That what makes it unique (run completely by the owner) can make it slow. However, come with a nice bottle or two and enjoy the place. The food is worth the wait and the experience is certainly unique.