The bottom line is that the RPT is a top notch NJ steakhouse. It's expensive (general consensus), and if you go on the weekend you will probably have to wait even if you have a reservation. However, the steak, and the food overall is excellent. High quality, excellent preparation and execution.
Even when I have a reservation on the weekends, I sometimes have to wait, which I don't mind. I have a drink at the bar and enjoy the ambiance of a hard-core, high-quality steakhouse. The bar scene is very good, and the drinks are excellent. The bar and the entire restaurant is often crowded, so sometimes the staff is maxed out -- but I've always enjoyed attentive and quality service. They do a very good job here as far as service.
This is one of the best steakhouses in NJ (in my opinion).