Located in the center of the city, which is perfect, as many of the youth hostels are also there, so you can easily get there and also get home (which otherwise can be a problem as there are just a few night buses and the metro stops at 10.30 pm). Don't start before midnight, there's nobody there and if the bar is open at all, they play a funny mixture of Black Sabbath, REM, Prince and Jamiroquai. Later on the pub is nicely crowded and the music is better (still pretty Metal and Hardrock, they didn't play any Death Metal while I was there).
Lots of different beers there from Franziskaner via San Miguel to Belgian Satan, also nicely equipped bar.
Beer prices range from 2.50 to 4 Euros, if I remember correctly.
Nice atmosphere, liked it.