I remember it well and have great memories. I grew up in Astoria, Queens, NY and it was located a few blocks from my home on Astoria Blvd-between 33rd and 34th Street. This was late 60's/early 70's. It as the closest thing we had to a McDonalds. (Though, we also did have a McDonald's and a Burger King on Astoria Blvd, but in the upper streets, like 83rd or something. Too far for us kids to go to. That was for special occasions, when all the parents on the block would plan together, announce "We're going to McDonalds!" and all us kids would be screaming and shaking in excitement as we were loaded into cars for a field trip to the Golden Arches, taking over the whole parking lot, but I digress...).
I used to get to walk there(Wetson's) with my friends and buy our meals wih our allowance. We were all around 6-8 years old. Wow, thinking back it seemed like such a safer, friendlier world. It was cool to look at and, similiar to today's Happy Meals, I think they would give toy racing cars with their meals because Herb Wetanson(owner's son) raced sports cars, and the man behind the counter was as impressive and friendly to me as a fireman or policeman. Sadly, without fanfare, it was closed one day. It then became a Hardee's for a real short time, like, 6 months(memories not as fond), then a Roy Rogers-or was it Arby's?(either way,not a fan), and then a Burger King, which on a recent home visit, it still is. And with each new takover, the building would be totally demo'd and rebuilt, so no sign of the original Wetson's exists.
The company that owns the rights to it(based on Long Island), has put out press releases that they will be bringing it back in late 2012. Good Luck. I just don't think it will be the same.