Haven't been myself but the venue has gone under a bit of a renaissance over the past year. Sounds like they get a good local crowd. I've also heard you can bring your own food since they don't serve much of anything themselves.
To me something that is overhyped is a hyped event that doesn't deliver. This tournament definitely delivered.
I think I know what your saying but c'mon! You're sounding like me.
That was going to be my answer to #3.
Have you been able to do anything useful with the product? I played around with it for a few minutes. It was neat but the interface overwhelmed me.