I've been going here every year for my birthday since I was a student myself at Algonquin (so for 4 years now). I'm actually considered a regular, haha! I'm always impressed by what the students do, I've never been disappointed by the food, and the servers are great at suggesting wines or dishes if you're undecided.
You have to go in knowing that the choices are limited, and the staff are still learning, but they are always professional and eager to make your experience a good one. So sure, sometimes they forget the bread, or they spill the water. But they more than make up for their mistakes with the courteous service.
Last year I took a larger group (I usually only go with my now hubby-to-be) and everyone enjoyed it! The only disappointment was they had run out of one of the a main courses before we could order. I guess they had to work on keeping better stock of things (not sure who does that, the students themselves or the faculty?)
And for a not particularly rich, barely out of post-secondary school rag-tag group that my friends and I are, it's an affordable place to go that's "fancy".
Plus I love supporting my college! :)