I first learned about Graham's Central Station about 4 years ago and have gone there a few times a year. It's been about 6 months since my last visit and decided to meet some friends there this past Saturday night.
To get the most for your money, try our approach: On Saturday nights, get there before 8:00pm (You can actually get in around 6:30pm if you're want to start the night early) . That way you avoid the $6 cover charge. Plus, until 9:30pm you get $0.25 beers and well drinks - just remember to hang onto your empty until you order the next round. To top it off, the Burrito Guy near the front of Graham's sells $5 burritos, made with all the fixings. He doesn't skimp either - they are huge and really hit the spot after dancing and karaoke.
Planned right, you can enjoy the evening for around 10 bucks a person!