I read several reviews of this place, and they were such a mixed bag we decided we needed to check it out for ourselves.
1) Yes, the food is pricey. It's fish. Fish is pricey.
2) We thought it was yummy. Mom had the Fishwife's Stew. It isn't cioppino, so the broth isn't the same as cioppino. But it was LOADED with seafood... crab, oysters, clams, scallops, prawns, shrimp. I had fish and chips. It was a single flat piece of fish coated in panko and fried. It was tasty and very flakey. It fell apart and was neigh on impossible to eat, even with a fork. I was disappointed that there wasn't more, but I am a bottomless fish and chips pit. For the price, even though it is fish, and even if the panko came from Japan, I felt there should have been more fish.
3) Yes, it is loud. It's a tall metal and glass building with a concrete floor. It echos. The upside of that: you could hear the people at your table, but the folks at the other tables were unintelligible. We have had to endure some pretty inane conversations from nearby tables at other restaurants, so this was a definite plus. Also, because it is a tall metal and glass building with a concrete floor, I was concerned about being cold. Not to worry. They have a heater hanging over you. Toasty.
It is nice to have a view of the marina and boat activity and the Newport bridge while you're eating. Our server, Ellen, was very attentive even though the place was packed (and it was a Sunday evening). We enjoyed their tasty selection of loose leaf teas - a real treat! We will definitely be eating there again.