I live only a few blocks away from the Hungry Toad. It is not considered a destination restaurant in Boulder at all. It's just a fun, local pub/restaurant. Kids are permitted, the place gets noisy due to poor acoustics, and sometimes the service is slow. But the drink varieties are fun, the specials are good for those knowing their ales/stouts/etc., and the food is varied and ok. The place is casual, with TVs over the bar area and some outside seating available during the summer. The outside seating is simply sidewalk seating with little view of the mountains that lie not too many blocks away.
Boulder has a wonderful array of restaurants for nearly every taste and palate preference. The Pearl Street Mall is loaded with eateries and offers perhaps the easiest "real Boulder feel" available. It's a pedestrian mall with lots of art galleries, shops, bookstores, etc. It's a destination place both night and day all year round, vibrant and full of buskers, musicians, and sidewalk vendors. It is the quintessential Boulder.
The newer, more commercial Twenty-Ninth Street Mall, a name that makes locals shudder at its lack of creativity, is also adorned with restaurants, but the ambience of Twenty-Ninth Street doesn't compare to that of Pearl Street.