I wasn't that happy with the sound, but I've been more unhappy than happy with the sound at most of the non-TMBG shows I've seen since the "1st Annual Music Against Brain Degeneration Revue" a few years ago, the Flaming Lips portion of which was the Loudest Concert I've Ever Attended, Bar None. I thought that Immaculate Machine got the worst sound, but it cleared up a bit towards the end of their set. I noticed a definite frequency boost (it's been too long and I wasn't paying close enough attention for me to say "between X and Y Hz") in the guitar solos, which could also have explained why the keyboard was so muddy. You also could barely hear Kathryn's vocals although that got slightly better towards the end of the set as well.
Destroyer was amusing in that no-stage-presence way (I leaned over to my girlfriend and said, "you know, I like his songs, but what I really love is his banter") but there wasn't exactly the energy level you'd expect between the other two acts (if you didn't know who Dan Bejar was, anyway).
I gave the Pornos a shot without earplugs but it was too loud (and/or I'm too old, as the saying goes). I didn't notice that anything actually sounded any better without them, either (except my chances for tinnitis later in life). The 9:30 isn't as bad as most clubs these days, but they still seem to be boosting bass and drums a little too much. The keyboards probably could have been turned up a bit, as could Blaine's mic. Overall you could hear vocals clearly enough but the instrument mix was muddy.