I've eaten there now twice with my wife and we've enjoyed it, with a couple of caveats. First time I had the Santa Fe burger (chilies & queso), the other night I had the L.A. burger (guacamole and watercress). I wasn't really expecting to like watercress on my burger, but it added a really nice peppery flavor. Guacamole was excellent, as I would expect from Bobby Flay. My wife had the Bobby Blue (blue cheese, bacon, tomato) both times, and we twice tried the excellent fries, crispy onion rings, and really cold double chocolate shake.
Although they supposedly only cook the burgers medium or better, both times mine were medium leaning towards medium rare (almost too rare for my wife) and were pink and very juicy. All the food comes out piping hot and the servers have been really nice when we've been there, although I hear it can get crazy at times. We had no wait either time, which may be a bad sign for Bobby.
There's a rack of condiments in squeeze bottles that includes ketchup, chipotle ketchup, jalapeno sauce, "burger" sauce (like a steak sauce) and mustard. You also get a dipping sauce with the fries that seems to be mayo and some kind of chili pepper or ground chipotle.
The cons: the burger seems a little small for what you pay ($7.50) although in reality they're plenty big for the average human. It can get pricey; a burger, fries, rings, and shake will run you about $19. That said, it's a tasty burger and well prepared, in my opinion.