I'll make a point of going there when I'm in Indy for Motogp 2009.
It's right on the corner of Meridian and S. Main. I go there every year during the International Powersports Expo.
Last year O'Neil rented it for Saturday nite and I had to hit them up for VIP passes. I got in but they had a bogus local cover band playing....THEY SUCKED!!! But the appetizers and free drinks saved the evening from being a total loss.
The other big event of notice is the annual Blues Fest they hold down in Eureka Springs following Memorial Day.
They shutdown the main street and all the hotels and small clubs host blues artists from around the country.
Generally a pretty cool vibe, especially the gigs held at the old hotels!